https://www.taxtmi.com/caselaws?id=78515 The tribunal waived the penalty under section 78 of the Finance Act, 1994 for the appellant who failed to pay service tax on received incentives/commissions to financial institutions. The appellant, upon being informed by the department, promptly started paying taxes even before clarifications were issued. The tribunal recognized the overpayment due to exemptions granted before a specific date and considered the appellant's proactive tax payment. Consequently, the penalty equal to the service tax was set aside, while other issues were upheld. en-us Thu, 20 May 2010 00:00:00 +0530 Fri, 04 Feb 2011 18:54:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=78515 The tribunal waived the penalty under section 78 of the Finance Act, 1994 for the appellant who failed to pay service tax on received incentives/commissions to financial institutions. The appellant, upon being informed by the department, promptly started paying taxes even before clarifications were issued. The tribunal recognized the overpayment due to exemptions granted before a specific date and considered the appellant's proactive tax payment. Consequently, the penalty equal to the service tax was set aside, while other issues were upheld. Case-Laws Service Tax Thu, 20 May 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=78515