https://www.taxtmi.com/caselaws?id=206179 The Court held that penalties under Section 78 of the Finance Act, 1994 cannot be reduced below the prescribed minimum by invoking Section 80. It emphasized that the onus is on the assessee to establish a reasonable cause to avoid penalties, but even if established, penalties cannot be reduced below the prescribed limit. The Tribunal was not entitled to reduce penalties below the minimum prescribed, leading to the appeal being allowed, the Tribunal's order quashed, and the case restored for a fresh decision. en-us Thu, 25 Nov 2010 00:00:00 +0530 Sat, 04 Apr 2015 12:32:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=206179 The Court held that penalties under Section 78 of the Finance Act, 1994 cannot be reduced below the prescribed minimum by invoking Section 80. It emphasized that the onus is on the assessee to establish a reasonable cause to avoid penalties, but even if established, penalties cannot be reduced below the prescribed limit. The Tribunal was not entitled to reduce penalties below the minimum prescribed, leading to the appeal being allowed, the Tribunal's order quashed, and the case restored for a fresh decision. Case-Laws Service Tax Thu, 25 Nov 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=206179