https://www.taxtmi.com/caselaws?id=240602 The appellant, who failed to collect and pay service tax to PSUs but later cleared the liability upon notification, contested penalties under Sections 76 & 78. The appellant's belief that PSUs were exempt from service tax was considered reasonable by the judge, who referenced a relevant High Court case. Consequently, relying on Section 80 of the Finance Act, 1994, the penalties under Sections 76 and 78 were set aside. An extension of stay application was deemed unnecessary post-decision and rejected. Ultimately, the appeal was allowed, and the penalties imposed on the appellant were overturned. en-us Mon, 07 Oct 2013 00:00:00 +0530 Sat, 07 Dec 2013 08:05:25 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=240602 The appellant, who failed to collect and pay service tax to PSUs but later cleared the liability upon notification, contested penalties under Sections 76 & 78. The appellant's belief that PSUs were exempt from service tax was considered reasonable by the judge, who referenced a relevant High Court case. Consequently, relying on Section 80 of the Finance Act, 1994, the penalties under Sections 76 and 78 were set aside. An extension of stay application was deemed unnecessary post-decision and rejected. Ultimately, the appeal was allowed, and the penalties imposed on the appellant were overturned. Case-Laws Service Tax Mon, 07 Oct 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=240602