https://www.taxtmi.com/caselaws?id=204243 The Tribunal ruled in favor of the appellant, setting aside the order confirming the tax liability for "Merchant Banking Services" between September 2006 and August 2007. The appellant's timely payment after notification of the tax liability, lack of contumacious conduct, and cooperation with revenue authorities led to the conclusion that penalties under sections 76 and 78 of the Finance Act, 1994 were unwarranted. The Tribunal invoked section 80 of the Act to waive the penalties, emphasizing the absence of malafide intent or willful evasion. en-us Tue, 14 Dec 2010 00:00:00 +0530 Fri, 17 May 2013 12:51:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=204243 The Tribunal ruled in favor of the appellant, setting aside the order confirming the tax liability for "Merchant Banking Services" between September 2006 and August 2007. The appellant's timely payment after notification of the tax liability, lack of contumacious conduct, and cooperation with revenue authorities led to the conclusion that penalties under sections 76 and 78 of the Finance Act, 1994 were unwarranted. The Tribunal invoked section 80 of the Act to waive the penalties, emphasizing the absence of malafide intent or willful evasion. Case-Laws Service Tax Tue, 14 Dec 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=204243