https://www.taxtmi.com/caselaws?id=201856 The High Court held that authorities cannot reduce penalties below the minimum prescribed limit under Section 76 of the Finance Act, 1994, without invoking Section 80. The Court quashed the Tribunal's decision, emphasizing that penalties cannot be dropped or reduced below the statutory limit. The matter was remanded for fresh consideration in line with legal principles and precedents. en-us Wed, 27 Oct 2010 00:00:00 +0530 Mon, 07 Feb 2011 17:30:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=201856 The High Court held that authorities cannot reduce penalties below the minimum prescribed limit under Section 76 of the Finance Act, 1994, without invoking Section 80. The Court quashed the Tribunal's decision, emphasizing that penalties cannot be dropped or reduced below the statutory limit. The matter was remanded for fresh consideration in line with legal principles and precedents. Case-Laws Service Tax Wed, 27 Oct 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=201856