https://www.taxtmi.com/caselaws?id=91628 The Tribunal upheld the imposition of a penalty for late filing of service tax returns by the share broker appellant, despite arguments citing reasons for the delay. Penalties under Sections 76 and 77 were deemed applicable due to the appellant's failure to file returns for consecutive quarters. However, considering the appellant's non-conduct of business, the penalty amount was reduced from Rs. 20,000 to Rs. 5,000. The judgment emphasized the significance of timely filing of returns and the need to consider individual circumstances in determining penalty amounts. en-us Tue, 02 Jun 1998 00:00:00 +0530 Wed, 19 Oct 2011 17:29:25 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=91628 The Tribunal upheld the imposition of a penalty for late filing of service tax returns by the share broker appellant, despite arguments citing reasons for the delay. Penalties under Sections 76 and 77 were deemed applicable due to the appellant's failure to file returns for consecutive quarters. However, considering the appellant's non-conduct of business, the penalty amount was reduced from Rs. 20,000 to Rs. 5,000. The judgment emphasized the significance of timely filing of returns and the need to consider individual circumstances in determining penalty amounts. Case-Laws Central Excise Tue, 02 Jun 1998 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=91628