https://www.taxtmi.com/caselaws?id=243983 The High Court held that penalties under Section 76 of the Finance Act, 1994 cannot be reduced below the minimum prescribed limit by invoking Section 80. The Court emphasized that once reasonable cause is proven, no penalty is imposable, not a reduced penalty. The decision clarified that appellate bodies cannot reduce penalties below the limit and set a precedent for future cases involving penalty reductions. The Court quashed the Tribunal's order and remanded the case for fresh consideration in line with the legal interpretation provided in a previous court decision. en-us Thu, 25 Nov 2010 00:00:00 +0530 Thu, 08 May 2014 12:34:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=243983 The High Court held that penalties under Section 76 of the Finance Act, 1994 cannot be reduced below the minimum prescribed limit by invoking Section 80. The Court emphasized that once reasonable cause is proven, no penalty is imposable, not a reduced penalty. The decision clarified that appellate bodies cannot reduce penalties below the limit and set a precedent for future cases involving penalty reductions. The Court quashed the Tribunal's order and remanded the case for fresh consideration in line with the legal interpretation provided in a previous court decision. Case-Laws Service Tax Thu, 25 Nov 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=243983