CESTAT Chennai: Assessee wins appeal, penalties under Finance Act set aside for belated service tax payment

The Appellate Tribunal CESTAT, Chennai ruled in favor of the assessee, setting aside penalties under sections 76 and 78 of the Finance Act, 1994 for belated payment of service tax on construction of a residential complex. The penalty under section 77 was upheld, resulting in a partial allowance of the appeal.

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The Appellate Tribunal CESTAT, Chennai ruled in favor of the assessee regarding penalties under sections 76 and 78 of the Finance Act, 1994 for belated payment of service tax on construction of residential complex. The penalties under sections 76 and 78 were set aside due to reasonable cause for failure to pay tax on time. However, the penalty under section 77 was upheld. The appeal was partly allowed.

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