https://www.taxtmi.com/caselaws?id=78671 The Tribunal set aside penalties under sections 77 and 78 of the Finance Act, 1994, in an appeal against Service Tax liability. Emphasizing prompt tax payment by the appellant and absence of mala fide intent, the Tribunal invoked the waiver provision under section 73(3) and overturned penalty imposition. Upholding the tax liability and interest payment, the Tribunal aligned its decision with fairness and legal principles, citing precedents like Vee Aar Secure v. CST. The appellant's immediate action upon notification of the lapse and compliance with Central Excise Officers' quantified tax liability led to the Tribunal's ruling against penalties. en-us Tue, 02 Mar 2010 00:00:00 +0530 Fri, 04 Jul 2014 15:29:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=78671 The Tribunal set aside penalties under sections 77 and 78 of the Finance Act, 1994, in an appeal against Service Tax liability. Emphasizing prompt tax payment by the appellant and absence of mala fide intent, the Tribunal invoked the waiver provision under section 73(3) and overturned penalty imposition. Upholding the tax liability and interest payment, the Tribunal aligned its decision with fairness and legal principles, citing precedents like Vee Aar Secure v. CST. The appellant's immediate action upon notification of the lapse and compliance with Central Excise Officers' quantified tax liability led to the Tribunal's ruling against penalties. Case-Laws Service Tax Tue, 02 Mar 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=78671