Appellate Tribunal upholds penalties for late filing of tax returns under Finance Act, 1994

The appeal challenging penalties under Sections 77 and 76 of the Finance Act, 1994 for late filing of ST-3 returns and late tax deposit was rejected by the Appellate Tribunal CESTAT Ahmedabad. The penalties of Rs.10,000 and Rs.1 lakh were upheld, with the latter already reduced by the Commissioner to Rs.1 lakh.

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The Appellate Tribunal CESTAT Ahmedabad rejected the appeal challenging penalties of Rs.10,000 under Section 77 and Rs.1 lakh under Section 76 of the Finance Act, 1994 for late filing of ST-3 returns and late tax deposit, with a delay of around 1400-1500 days. The Commissioner had already reduced the penalty under Section 76 to Rs.1 lakh. The appeal was rejected.

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