https://www.taxtmi.com/caselaws?id=215101 The Tribunal upheld the Appellant's liability for penalty under Section 76 of the Finance Act for delayed Service Tax payment but rejected the imposition of penalties under Section 78. The Appellant's arguments regarding non-concealment of facts and correct reflection in the Balance Sheet were considered, along with the invocation of Section 73(3) and comparison with relevant case law. Despite emphasizing transparency and compliance, the Appellant was ultimately held liable for the penalty under Section 76, with Section 78 penalties being dismissed. en-us Fri, 10 Feb 2012 00:00:00 +0530 Fri, 14 Sep 2012 16:02:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=215101 The Tribunal upheld the Appellant's liability for penalty under Section 76 of the Finance Act for delayed Service Tax payment but rejected the imposition of penalties under Section 78. The Appellant's arguments regarding non-concealment of facts and correct reflection in the Balance Sheet were considered, along with the invocation of Section 73(3) and comparison with relevant case law. Despite emphasizing transparency and compliance, the Appellant was ultimately held liable for the penalty under Section 76, with Section 78 penalties being dismissed. Case-Laws Service Tax Fri, 10 Feb 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=215101