https://www.taxtmi.com/caselaws?id=76183 The Tribunal upheld penalties under sections 77 and 78 of the Finance Act, 1994, against the assessee for contravention with intent to evade tax, despite the assessee's genuine belief and non-collection of tax. The Tribunal found the Director of the Company aware of tax obligations, leading to the imposition of penalties. However, the Tribunal justified the absence of penalty under section 76 due to proper record-keeping and post-detention compliance by the assessee. The Tribunal directed the assessee to pay 25% of the tax amount within 30 days to avoid the full penalty under the first proviso to section 78. The Tribunal disposed of the appeals accordingly, rejecting the revenue's appeal and affirming penalties under sections 77 and 78. en-us Tue, 18 Aug 2009 00:00:00 +0530 Fri, 23 Jul 2010 11:22:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=76183 The Tribunal upheld penalties under sections 77 and 78 of the Finance Act, 1994, against the assessee for contravention with intent to evade tax, despite the assessee's genuine belief and non-collection of tax. The Tribunal found the Director of the Company aware of tax obligations, leading to the imposition of penalties. However, the Tribunal justified the absence of penalty under section 76 due to proper record-keeping and post-detention compliance by the assessee. The Tribunal directed the assessee to pay 25% of the tax amount within 30 days to avoid the full penalty under the first proviso to section 78. The Tribunal disposed of the appeals accordingly, rejecting the revenue's appeal and affirming penalties under sections 77 and 78. Case-Laws Service Tax Tue, 18 Aug 2009 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=76183