2016 (3) TMI 573

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..... , so the appellant also deserves consideration for exoneration from levy of penalty. therefore, levy of penalty under section 78 is waived of. However, the penalty under section 77 shall be maintained since there is concurrent liability. - Decided partly in favour of appellant - ST/41437/2013 - - - Dated:- 9-10-2015 - D. N. Panda, Member (J) For the Appellant : Mr N Marimuthu, Auth. Rep. .....

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..... from levy of penalty. Accordingly, the levy of penalty under section 78 is waived. However, the penalty under section 77 shall be maintained since there is concurrent liability. Consequently, appeal is partly allowed, waiving penalty under section 78 and confirming tax and interest as well as penalty under section 77 of the Act. ( Dictated and pronounced in open court ) - - TaxTMI - TMITax .....

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