https://www.taxtmi.com/caselaws?id=207744 The court held that despite the assessee paying duty and interest before the proceedings, penalty imposition was justified due to suppression of facts. However, the penalty was restricted to 25% of the original amount under section 78 of the Finance Act, 1994, as the assessee had promptly paid the tax liability upon communication. The appeal was partly allowed, reducing the penalty to 25% of the initial amount imposed by the Assessing Authority. en-us Sat, 15 Oct 2011 00:00:00 +0530 Sat, 18 Aug 2012 18:19:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=207744 The court held that despite the assessee paying duty and interest before the proceedings, penalty imposition was justified due to suppression of facts. However, the penalty was restricted to 25% of the original amount under section 78 of the Finance Act, 1994, as the assessee had promptly paid the tax liability upon communication. The appeal was partly allowed, reducing the penalty to 25% of the initial amount imposed by the Assessing Authority. Case-Laws Service Tax Sat, 15 Oct 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=207744