TMI Blog2015 (9) TMI 985X X X X Extracts X X X X X X X X Extracts X X X X ..... tion 76, Section 77 or Section 78, no penalty shall be imposable on the assessee for any failure referred to in the said provisions, if the assessee proves that there was reasonable cause for the said failure. - words or Section 78 were introduced into Section 80 by the Finance Act of 2004, to exclude Section 79 from the net of Section 80. Therefore, once the assessee proves that there was reaso ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... lant and the learned counsel for the Department. 2. By the first among the relevant orders, the Tribunal specifically held that the appellant is entitled to the benefit of the provisions in Section 80 of the Finance Act, 1994, hereinafter, the Act . It was held that, on the facts and circumstances of the case, the Tribunal deems it proper to take a lenient view in the matter. The Tribunal was ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... tax. Section 77 provides for penalty for contravention of rules and the provisions of the Act for which no penalty is specified elsewhere. Section 78 prescribes the penalty for suppressing value of taxable service. Section 80 opens with a non-obstante clause saying that notwithstanding anything contained in Section 76, Section 77 or Section 78, no penalty shall be imposable on the assessee for any ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
