https://www.taxtmi.com/caselaws?id=75932 The Tribunal upheld the decision of the Commissioner (Appeals) to reduce the penalty under section 76 of the Finance Act, 1994, from Rs. 93,180 to Rs. 10,000. The Tribunal concluded that the power to reduce penalties is covered by section 80 of the Act, citing various precedents. The revenue's appeal was dismissed, affirming the discretion of authorities to impose lesser penalties under section 80. The respondents were deemed to have correctly benefited from section 80 of the Finance Act, 1994. en-us Fri, 26 Dec 2008 00:00:00 +0530 Wed, 26 May 2010 00:00:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=75932 The Tribunal upheld the decision of the Commissioner (Appeals) to reduce the penalty under section 76 of the Finance Act, 1994, from Rs. 93,180 to Rs. 10,000. The Tribunal concluded that the power to reduce penalties is covered by section 80 of the Act, citing various precedents. The revenue's appeal was dismissed, affirming the discretion of authorities to impose lesser penalties under section 80. The respondents were deemed to have correctly benefited from section 80 of the Finance Act, 1994. Case-Laws Service Tax Fri, 26 Dec 2008 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=75932