https://www.taxtmi.com/caselaws?id=148541 The final order in the case upheld a penalty of Rs. 10 crores imposed on the assessee under Section 78 of the Finance Act, 1994, reducing it from the initial Rs. 50 lakhs imposed by the Commissioner. The Tribunal dismissed the assessee's Modification Application seeking the benefit of the first proviso to Section 78 due to lack of evidence and failure to rectify any apparent mistake. The Revenue's application challenging the penalty issue was also dismissed for lacking merit, with the Tribunal upholding the majority decision on the penalty issue without finding any mistake in the application of Section 80. en-us Mon, 16 Nov 2009 00:00:00 +0530 Mon, 29 Apr 2013 17:07:43 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=148541 The final order in the case upheld a penalty of Rs. 10 crores imposed on the assessee under Section 78 of the Finance Act, 1994, reducing it from the initial Rs. 50 lakhs imposed by the Commissioner. The Tribunal dismissed the assessee's Modification Application seeking the benefit of the first proviso to Section 78 due to lack of evidence and failure to rectify any apparent mistake. The Revenue's application challenging the penalty issue was also dismissed for lacking merit, with the Tribunal upholding the majority decision on the penalty issue without finding any mistake in the application of Section 80. Case-Laws Service Tax Mon, 16 Nov 2009 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=148541