https://www.taxtmi.com/caselaws?id=209702 The High Court overturned the Tribunal's decision to set aside the levy of interest, emphasizing that interest on delayed service tax payment is compensatory. The Court found the Tribunal's ruling on interest payment erroneous and reinstated the interest liability. Regarding the penalty, the Court noted that payment of tax and interest before the notice, along with reasons for delay, constituted sufficient cause for penalty waiver under Section 80. The Court applied a beneficial circular retrospectively, preventing further liability on the assessee despite the interest payment issue remaining unresolved. en-us Thu, 15 Sep 2011 00:00:00 +0530 Sat, 18 Aug 2012 18:24:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=209702 The High Court overturned the Tribunal's decision to set aside the levy of interest, emphasizing that interest on delayed service tax payment is compensatory. The Court found the Tribunal's ruling on interest payment erroneous and reinstated the interest liability. Regarding the penalty, the Court noted that payment of tax and interest before the notice, along with reasons for delay, constituted sufficient cause for penalty waiver under Section 80. The Court applied a beneficial circular retrospectively, preventing further liability on the assessee despite the interest payment issue remaining unresolved. Case-Laws Service Tax Thu, 15 Sep 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=209702