https://www.taxtmi.com/caselaws?id=76344 The Judicial Member upheld the decision of the Commissioner (Appeals) to set aside penalties under sections 76 and 77 of the Finance Act, 1994 imposed on the respondents for availing inadmissible credit. The Commissioner (Appeals) invoked section 80 of the Act, considering the respondents' bona fide belief and their corrective actions in rectifying the tax irregularity. The Judicial Member found no grounds to overturn the decision, emphasizing the confusion surrounding the new tax levy on Multi-System Operators and the respondents' compliance efforts. The appeal by the Revenue was rejected. en-us Tue, 20 Oct 2009 00:00:00 +0530 Sat, 26 Apr 2014 10:05:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=76344 The Judicial Member upheld the decision of the Commissioner (Appeals) to set aside penalties under sections 76 and 77 of the Finance Act, 1994 imposed on the respondents for availing inadmissible credit. The Commissioner (Appeals) invoked section 80 of the Act, considering the respondents' bona fide belief and their corrective actions in rectifying the tax irregularity. The Judicial Member found no grounds to overturn the decision, emphasizing the confusion surrounding the new tax levy on Multi-System Operators and the respondents' compliance efforts. The appeal by the Revenue was rejected. Case-Laws Service Tax Tue, 20 Oct 2009 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=76344