Waiver of Pre-Deposit and Stay of Recovery Granted in Finance Act Penalty Appeal

The Appellate Tribunal CESTAT, New Delhi granted waiver of pre-deposit of penalty and stay of recovery pending appeal in a case involving a penalty imposed under Section 77(1)(c) of Finance Act, 1994. The tribunal found the penalty may not be justified due to lack of evidence of evasion of service tax.

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The Appellate Tribunal CESTAT, New Delhi heard a stay petition regarding a penalty of Rs. 43,600 imposed under Section 77(1)(c) of Finance Act, 1994 for delay in submitting information. The tribunal found that the penalty may not be justified as there was no evidence of evasion of service tax. The tribunal granted waiver of pre-deposit of penalty and stay of recovery pending appeal.

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