2016 (3) TMI 781

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..... ondent : Shri B Kumar Iyer, Supdt. (AR) ORDER Per M. V. Ravindran When this matter was called out we find that the issue involved in this case lies in a narrow compass accordingly we take up the application for disposal. 2. On perusal of the same we find that the issue can be disposed of summarily accordingly we allow the application for out-of-turn hearing and take up the appeal itself for di .....

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..... en confirmed. 5. On perusal of the records we find the provisions of 78A of the Finance Act, 1994 which brought into statute with effect from 10.05.2013 reads as under:- "Penalty for offences by director, etc., of company 78A. Where a company has committed any of the following contraventions, namely:- (a) evasion of service tax; or (b) issuance of invoice, bill or, as the case may be, .....

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..... penalty which may extend to one lakh rupees." In our view, this Section cannot be invoked by the Revenue for any aberrations by the assessee prior to 10.05.2013. Accordingly, we find merits in the appeal filed by the appellant. 6. The impugned order to that extent it imposes personal penalty under Section 78A of the Finance Act, 1994, is set aside and the appeal to that extent is allowed. ( Dic .....

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