TMI Blog2018 (10) TMI 543X X X X Extracts X X X X X X X X Extracts X X X X ..... could have had a bonafide belief that tax liability need not be discharged on such TDS amounts - since the entire tax liability in these proceedings stands paid before issuance of show cause notices and the interest thereof stands paid before adjudication. Penalty not called for - appeal allowed. - Appeal No. ST/31015/2017 - A/31146/2018 - Dated:- 11-9-2018 - Mr. M.V. RAVINDRAN, MEMBER (JUD ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e tax liability along with interest as has been pointed out by the audit party before the issuance of show cause notices and interest paid before adjudication. It is his submission that in view of such factual position, the penalty imposed under section 78 of Finance Act 1994 needs to be set aside as per provisions of Section 73 (3) of the Finance Act, 1994 and as held by Hon ble High Court of Kar ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... d by the appellant before issuance of show cause notices and adjudication and no penalty be imposed. 6. In my view, the findings recorded by the first appellate authority that appellant has not contested the confirmation of penalty imposed under section 78 of the Finance Act 1994 seems to be incorrect as the culmination of the entire proceedings took place on remand and penalty under section 78 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... liability in these proceedings stands paid before issuance of show cause notices and the interest thereof stands paid before adjudication, I hold that penalty imposed under section 78 of the Finance Act 1994 is uncalled for and accordingly needs to be set aside, by invoking provisions of Section 80 of the Finance Act, 1994. 7. Appeal to the extent of setting aside of the penalty imposed under s ..... X X X X Extracts X X X X X X X X Extracts X X X X
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