https://www.taxtmi.com/caselaws?id=212827 The Appellate Tribunal CESTAT, Chennai, ruled in favor of the appellant-bank in a tax liability dispute over amounts received for loan disbursement services. The Tribunal upheld the original authority's decision to waive the penalty under Section 80 of the Finance Act, 1994, due to confusion regarding tax liability. The Tribunal found no evidence of suppression or fraud and emphasized the importance of considering circumstances leading to non-payment of tax. The impugned Order-in-Revision was set aside, restoring the original authority's decision and allowing the appeal. en-us Tue, 20 Dec 2011 00:00:00 +0530 Thu, 23 Aug 2012 13:07:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=212827 The Appellate Tribunal CESTAT, Chennai, ruled in favor of the appellant-bank in a tax liability dispute over amounts received for loan disbursement services. The Tribunal upheld the original authority's decision to waive the penalty under Section 80 of the Finance Act, 1994, due to confusion regarding tax liability. The Tribunal found no evidence of suppression or fraud and emphasized the importance of considering circumstances leading to non-payment of tax. The impugned Order-in-Revision was set aside, restoring the original authority's decision and allowing the appeal. Case-Laws Service Tax Tue, 20 Dec 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=212827