https://www.taxtmi.com/caselaws?id=77834 HC held that penalty under Section 76 of the Finance Act, 1994 cannot be reduced below the statutory minimum by the authority, appellate authority or Tribunal, as no discretion to go below that limit exists when Sections 76 and 80 are read together. The Tribunal's order was quashed for failing to consider these provisions and for treating Section 80's benefit as granted without recording reasonable cause. The matter is restored to the Tribunal file for fresh decision in accordance with law; appeal disposed accordingly. en-us Thu, 08 Jul 2010 00:00:00 +0530 Tue, 18 Nov 2025 16:03:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=77834 HC held that penalty under Section 76 of the Finance Act, 1994 cannot be reduced below the statutory minimum by the authority, appellate authority or Tribunal, as no discretion to go below that limit exists when Sections 76 and 80 are read together. The Tribunal's order was quashed for failing to consider these provisions and for treating Section 80's benefit as granted without recording reasonable cause. The matter is restored to the Tribunal file for fresh decision in accordance with law; appeal disposed accordingly. Case-Laws Service Tax Thu, 08 Jul 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=77834