https://www.taxtmi.com/caselaws?id=78571 Penalty under section 76 of the Finance Act, 1994 required recalculation because service tax was collected from customers only from October 2006 and not throughout the entire disputed period. The daily-rate penalty had been applied for the full period without matching the factual sequence of collection and non-payment, so the quantum was found to need reconsideration on the actual period of default. The penalty under section 76 was set aside to that extent and the matter was remitted for fresh reworking after granting the assessee a reasonable opportunity of hearing. en-us Fri, 25 Jun 2010 00:00:00 +0530 Sat, 25 Dec 2010 14:26:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=78571 Penalty under section 76 of the Finance Act, 1994 required recalculation because service tax was collected from customers only from October 2006 and not throughout the entire disputed period. The daily-rate penalty had been applied for the full period without matching the factual sequence of collection and non-payment, so the quantum was found to need reconsideration on the actual period of default. The penalty under section 76 was set aside to that extent and the matter was remitted for fresh reworking after granting the assessee a reasonable opportunity of hearing. Case-Laws Service Tax Fri, 25 Jun 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=78571