CESTAT Chennai: Penalty under section 78 set aside, section 77 penalty upheld for contravening Act provisions.

The Appellate Tribunal CESTAT, Chennai ruled in favor of the appellant, setting aside the penalty imposed under section 78 of the Finance Act, 1994 due to lack of suppression. However, the penalty under section 77 was upheld as the appellants had contravened the provisions of the Act by not filing returns. The appeal was allowed in part.

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The Appellate Tribunal CESTAT, Chennai ruled in favor of the appellant, setting aside the penalty imposed under section 78 of the Finance Act, 1994 due to lack of suppression. However, the penalty under section 77 was upheld as the appellants had contravened the provisions of the Act by not filing returns. The appeal was allowed in part.

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