https://www.taxtmi.com/caselaws?id=214682 The Tribunal dismissed the appeal against the penalty under Section 78 of the Finance Act, 1994, upholding the Commissioner's decision to invoke Section 80. The respondent's bonafide belief, timely tax payment, and adherence to the circular by CBEC were considered, leading to the penalty being set aside. Despite the Revenue's reliance on Supreme Court judgments, the Tribunal found the penalty imposition unjustified and affirmed the invocation of Section 80 based on the circumstances of the case. en-us Thu, 07 Jun 2012 00:00:00 +0530 Fri, 18 Jan 2013 11:48:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=214682 The Tribunal dismissed the appeal against the penalty under Section 78 of the Finance Act, 1994, upholding the Commissioner's decision to invoke Section 80. The respondent's bonafide belief, timely tax payment, and adherence to the circular by CBEC were considered, leading to the penalty being set aside. Despite the Revenue's reliance on Supreme Court judgments, the Tribunal found the penalty imposition unjustified and affirmed the invocation of Section 80 based on the circumstances of the case. Case-Laws Service Tax Thu, 07 Jun 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=214682