https://www.taxtmi.com/caselaws?id=210179 The Appellate Tribunal CESTAT, CHENNAI, allowed the Department's appeal, modifying the lower appellate authority's order. The Tribunal held the respondents liable to pay a penalty of Rs.40,692, equal to the reduced tax amount determined by the lower appellate authority, as they failed to deposit 25% of the penalty amount within the required timeframe. The Tribunal clarified that the reduced penalty provision applies when the tax amount is enhanced, not reduced. The Department's appeal was allowed based on these findings, emphasizing compliance with the Finance Act, 1994. en-us Fri, 08 Apr 2011 00:00:00 +0530 Sat, 24 Nov 2012 12:41:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=210179 The Appellate Tribunal CESTAT, CHENNAI, allowed the Department's appeal, modifying the lower appellate authority's order. The Tribunal held the respondents liable to pay a penalty of Rs.40,692, equal to the reduced tax amount determined by the lower appellate authority, as they failed to deposit 25% of the penalty amount within the required timeframe. The Tribunal clarified that the reduced penalty provision applies when the tax amount is enhanced, not reduced. The Department's appeal was allowed based on these findings, emphasizing compliance with the Finance Act, 1994. Case-Laws Service Tax Fri, 08 Apr 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=210179