https://www.taxtmi.com/caselaws?id=255033 The High Court upheld the Tribunal's decision to set aside the penalty under Section 76 of the Finance Act, 1994, in favor of the assessee. The Court emphasized the application of Section 80, considering the voluntary payment of duty before the show cause notice and the financial crisis caused by a sub-agent's breach of trust. The decision favored the assessee, leading to the dismissal of the appeal without costs awarded. The Court found no grounds to interfere, making the second question of law academic due to the favorable ruling on the first issue. en-us Thu, 11 Dec 2014 00:00:00 +0530 Tue, 07 Jul 2015 10:21:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=255033 The High Court upheld the Tribunal's decision to set aside the penalty under Section 76 of the Finance Act, 1994, in favor of the assessee. The Court emphasized the application of Section 80, considering the voluntary payment of duty before the show cause notice and the financial crisis caused by a sub-agent's breach of trust. The decision favored the assessee, leading to the dismissal of the appeal without costs awarded. The Court found no grounds to interfere, making the second question of law academic due to the favorable ruling on the first issue. Case-Laws Service Tax Thu, 11 Dec 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=255033