https://www.taxtmi.com/caselaws?id=259271 The Supreme Court ruled in favor of the appellant/Revenue, holding that penalties under both Sections 76 and 78 of the Finance Act, 1994 are applicable when wilful suppression is established. The Court emphasized the mandatory nature of penalties under Section 78 and clarified that penalties under both sections can be imposed concurrently. The Tribunal's decision to not impose penalties under Section 78 despite penalties under Section 76 being levied was deemed incorrect. The appeal was allowed, granting the respondent/assessee the opportunity to raise legal objections within the permissible limits of the law, with no costs imposed. en-us Thu, 23 Apr 2015 00:00:00 +0530 Tue, 13 Oct 2015 13:02:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=259271 The Supreme Court ruled in favor of the appellant/Revenue, holding that penalties under both Sections 76 and 78 of the Finance Act, 1994 are applicable when wilful suppression is established. The Court emphasized the mandatory nature of penalties under Section 78 and clarified that penalties under both sections can be imposed concurrently. The Tribunal's decision to not impose penalties under Section 78 despite penalties under Section 76 being levied was deemed incorrect. The appeal was allowed, granting the respondent/assessee the opportunity to raise legal objections within the permissible limits of the law, with no costs imposed. Case-Laws Service Tax Thu, 23 Apr 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=259271