https://www.taxtmi.com/article/detailed?id=778 Waiver of penalty under the Finance Act, 1994 operates through Section 80, which exempts penalties under Sections 76, 77 and 78 if the assessee proves reasonable cause for non-compliance. Factors supporting waiver include bona fide uncertainty about a new levy followed by voluntary payment and interest, cooperation with investigations, small or proprietary business status, and settlement under a dispute resolution scheme; deliberate suppression of transactions negates reasonable cause. Authorities must apply Section 80 factually and may remand decisions where relevant Finance Act provisions were not considered. en-us Wed, 05 May 2010 00:00:00 +0530 Thu, 06 Jan 2011 12:01:08 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=778 Waiver of penalty under the Finance Act, 1994 operates through Section 80, which exempts penalties under Sections 76, 77 and 78 if the assessee proves reasonable cause for non-compliance. Factors supporting waiver include bona fide uncertainty about a new levy followed by voluntary payment and interest, cooperation with investigations, small or proprietary business status, and settlement under a dispute resolution scheme; deliberate suppression of transactions negates reasonable cause. Authorities must apply Section 80 factually and may remand decisions where relevant Finance Act provisions were not considered. Articles Service Tax Wed, 05 May 2010 00:00:00 +0530 https://www.taxtmi.com/article/detailed?id=778