TMI Blog2008 (9) TMI 76X X X X Extracts X X X X X X X X Extracts X X X X ..... - penalties had already been vacated by the Tribunal on a finding that the failures had occurred due to the ignorance on the part of the respondents – tribunal’s order require no interference – revenue’s appeal seeking to restore the penalty, is dismissed - S/220/2006 - 999/2008 - Dated:- 15-9-2008 - Shri P. Karthikeyan, Member (T) Smt. R. Bhagyadevi, SDR, for the Appellant. Shri V. Su ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... in the appeal. 3. Ld. Counsel for the respondents submits that the penalties sustained by the same order had been vacated by this Tribunal in terms of Section 80 of the Act, on a finding of bona fide conduct on the part of the respondents vide Final Order No. 89/07, dated 29-1-07 [2007 (7) S.T.R. 195 (Tribunal)]. It is submitted that in view of the above finding of the Tribunal, the appeal fi ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... f the Act. As pointed out by the ld. Counsel for the appellants, the penalties sustained by the Commissioner (A) had already been vacated by the Tribunal on a finding that the failures had occurred due to the ignorance on the part of the respondents. In para 4 of the final order passed in respect of penalties imposed under Sections 76 and 77, this Tribunal had observed as follows: "I have carefu ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ction 76, Section 77, Section 78 or Section 79, 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." I am inclined to waive the penalties against the appellants as provided in Section 80 of the Finance Act, 1994. In the circumstances, the impugned order is set aside. The appe ..... X X X X Extracts X X X X X X X X Extracts X X X X
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