Simultaneous penalties under Sections 76 and 78 remained unsettled for the pre-10.05.2008 period, prompting Larger Bench referral.

Simultaneous penalty under Sections 76 and 78 of the Finance Act, 1994 for the period before 10.05.2008 was treated as a disputed legal question because conflicting High Court views existed on whether both penalties could be imposed together. The Tribunal did not decide the merits itself and instead referred the issue to a Larger Bench for authoritative resolution.

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Issues: Whether penalty under Section 76 and Section 78 of the Finance Act, 1994 could be imposed simultaneously for the period prior to 10.05.2008.

Analysis: The order noticed conflicting decisions of different High Courts on the permissibility of simultaneous penalties under the two provisions and found it appropriate to place the matter before a Larger Bench for resolution.

Outcome: The issue was referred to a Larger Bench for decision.

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