TMI Blog2011 (10) TMI 60X X X X Extracts X X X X X X X X Extracts X X X X ..... ting the same and also in view of the fact that the decision of Hon'ble High Court of Mumbai in the case of Indian National Shipowners Association (2008 (12) TMI 41 - BOMBAY HIGH COURT), no penalty is imposable under any of the Sections of Finance Act, 1994. - ST/324/2011 - - - Dated:- 14-10-2011 - MR. B.S.V. MURTHY, J. Represented by: Shri J.C. Patel, Adv. for Assessee. Shri R. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... and passed the order revising the order of the original adjudicating authority and imposing penalty under Sections 76, 77 and 78 of Finance Act, 1994. 2. Ld.Counsel submitted that the issue involved is very short and therefore instead of considering the stay petition now, pre-deposit may be waived and appeal itself may be decided. Since the issue is only of liability of penalty and the appell ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... during the period and further the manufacturer, if he discharges the liability, would be eligible for CENVAT Credit. The submission of the appellant that there was no reason for them to suppress facts or resort to mis-declaration with intent to evade payment of Service Tax, does not arise, has to be accepted. Further, in terms of Section 73(3) of Finance Act, 1994 also, once the Service Tax has ..... X X X X Extracts X X X X X X X X Extracts X X X X
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