https://www.taxtmi.com/caselaws?id=239077 The Tribunal set aside the penalty imposed on M/s. Bombay Stock Exchange Ltd. under Section 78 of the Finance Act, as there was no evidence of malafide intent in the delay of discharging tax liability for commercial training or coaching services. The Tribunal noted the historical uncertainty regarding service tax liability for such services by non-commercial organizations and the subsequent retrospective amendment validating the levy. Consequently, the Tribunal directed the Revenue to promptly refund the penalty amount already paid by the appellant. en-us Wed, 03 Jul 2013 00:00:00 +0530 Tue, 05 Nov 2013 11:57:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=239077 The Tribunal set aside the penalty imposed on M/s. Bombay Stock Exchange Ltd. under Section 78 of the Finance Act, as there was no evidence of malafide intent in the delay of discharging tax liability for commercial training or coaching services. The Tribunal noted the historical uncertainty regarding service tax liability for such services by non-commercial organizations and the subsequent retrospective amendment validating the levy. Consequently, the Tribunal directed the Revenue to promptly refund the penalty amount already paid by the appellant. Case-Laws Service Tax Wed, 03 Jul 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=239077