https://www.taxtmi.com/caselaws?id=254201 The Tribunal ruled in favor of the appellant, M/s. Calderys India Refractories Ltd., stating that penalty under Section 76 of the Finance Act was not applicable as the liability to pay service tax arose in January 2009, not earlier. Additionally, the penalty under Sections 77 & 78 was set aside as the appellant promptly paid the service tax liability with interest upon notification, demonstrated good faith, and had no intention to evade payment. The appeal was allowed, emphasizing the importance of timely tax payments and good faith compliance to avoid penalties under the Finance Act. en-us Mon, 25 Feb 2013 00:00:00 +0530 Thu, 23 Jul 2015 16:51:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=254201 The Tribunal ruled in favor of the appellant, M/s. Calderys India Refractories Ltd., stating that penalty under Section 76 of the Finance Act was not applicable as the liability to pay service tax arose in January 2009, not earlier. Additionally, the penalty under Sections 77 & 78 was set aside as the appellant promptly paid the service tax liability with interest upon notification, demonstrated good faith, and had no intention to evade payment. The appeal was allowed, emphasizing the importance of timely tax payments and good faith compliance to avoid penalties under the Finance Act. Case-Laws Service Tax Mon, 25 Feb 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=254201