https://www.taxtmi.com/caselaws?id=202333 The Appellate Tribunal CESTAT, CHENNAI upheld the decision of the Commissioner (Appeals) to reduce the penalty under Section 76 of the Finance Act from Rs.1,49,758 to Rs.50,000 in a case involving service tax demands on a manufacturer of Oleoresin. The Tribunal considered the confusion faced by the respondent as an exporter and the lack of tax evasion intent, leading to the invocation of Section 80 for revenue-neutrality. Despite the department's argument on the minimum prescribed penalty, the Tribunal maintained the reduced penalty amount, emphasizing the specific circumstances of the case and rejecting the department's appeal. en-us Tue, 15 Feb 2011 00:00:00 +0530 Wed, 28 Dec 2011 18:22:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=202333 The Appellate Tribunal CESTAT, CHENNAI upheld the decision of the Commissioner (Appeals) to reduce the penalty under Section 76 of the Finance Act from Rs.1,49,758 to Rs.50,000 in a case involving service tax demands on a manufacturer of Oleoresin. The Tribunal considered the confusion faced by the respondent as an exporter and the lack of tax evasion intent, leading to the invocation of Section 80 for revenue-neutrality. Despite the department's argument on the minimum prescribed penalty, the Tribunal maintained the reduced penalty amount, emphasizing the specific circumstances of the case and rejecting the department's appeal. Case-Laws Service Tax Tue, 15 Feb 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=202333