https://www.taxtmi.com/caselaws?id=203456 The Commissioner (A) reduced the penalty imposed under Section 78 from Rs.3,14,842/- to 25% of the amount if paid within 30 days. The penalties under Sections 76 and 77 were set aside. The Tribunal ruled in favor of the appellant, holding that no penalty should be imposed as they promptly paid the tax upon notification, believed they were exempt under the EXIM Policy, and were eligible for tax credits. The department's appeal for penalty enhancement was rejected, and the appellant's appeal against the sustained penalty was allowed, setting it aside. en-us Tue, 01 Mar 2011 00:00:00 +0530 Wed, 28 Dec 2011 18:25:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=203456 The Commissioner (A) reduced the penalty imposed under Section 78 from Rs.3,14,842/- to 25% of the amount if paid within 30 days. The penalties under Sections 76 and 77 were set aside. The Tribunal ruled in favor of the appellant, holding that no penalty should be imposed as they promptly paid the tax upon notification, believed they were exempt under the EXIM Policy, and were eligible for tax credits. The department's appeal for penalty enhancement was rejected, and the appellant's appeal against the sustained penalty was allowed, setting it aside. Case-Laws Service Tax Tue, 01 Mar 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=203456