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2017 (11) TMI 1335 - HC - Service TaxPenalty - Reverse charge mechanism - Fees for Overseas Borrowing paid to several non-resident financial institutions - Held that: - Goodness and precocious conduct of the respondent Corporation in making payment has to be appreciated and not condemned - The respondent-Corporation, to show their bona fides, had paid service tax even for the period prior to 19th April, 2006. Non-contest in the proceedings under Section 73 cannot be used as a ground or reason to establish and show that requirements of Section 78 are satisfied - penalty set aside - appeal dismissed - decided against Revenue.
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