TMI Blog2016 (12) TMI 1470X X X X Extracts X X X X X X X X Extracts X X X X ..... litigation till the Hon'ble High Court of Bombay settled the law in the case of Indian National Ship Owners Association which indicated that the service tax liability arises from 18.04.2006 - this is a fit case for invoking the provisions of Section 80 of the Finance Act, 1994 and set aside the penalties imposed on the appellant - penalties set aside - tax and interest upheld - decided partly in ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... of stands paid before the issuance of show-cause notice. It is his submission that though they are contesting the issue on merits in order to put an end to the litigation on the issue they are conceding the service tax liability and interest thereof; however, prays that the penalties imposed be set aside. 5. After hearing the submissions made by ld. Departmental Representative and perusal of th ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... recipient under the reverse charge mechanism and the issue was highly contested, we find that this is a fit case for invoking the provisions of Section 80 of the Finance Act, 1994 and set aside the penalties imposed on the appellant. Invoking the provisions of Section 80, we set aside the penalties imposed by the lower authorities while upholding the service tax liability and the interest thereof ..... X X X X Extracts X X X X X X X X Extracts X X X X
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