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<h1>Appellate Tribunal drops penalty under Finance Act, 1994</h1> The Appellate Tribunal CESTAT NEW DELHI granted relief to the appellant/assessee by dropping the penalty under Section 77 of the Finance Act, 1994. The ... Membership of club or association service - Penalty u/s 77 - Appellate Commissioner granted partial relief by dropping penalty under Section 77 - Held that:- Following decision of M/s Federation of Indian Chambers of Commerce and Industry, M/s Electronic and Computer Software Export Promotion Council Versus CST, Delhi [2014 (5) TMI 183 - CESTAT NEW DELHI] - Decided in favour of assessee. The Appellate Tribunal CESTAT NEW DELHI in the case of the appellant/assessee granted relief by dropping penalty under Section 77 of the Finance Act, 1994. A connected appeal was allowed based on a settled legal principle in favor of the assessee. The impugned order was quashed.