https://www.taxtmi.com/forum/issue?id=108856 Omission of the erstwhile penalty provision took effect prospectively; the old penalty applies only to pre omission periods if its elements (suppression or willful misstatement) are present. Section 78B's transitory scheme makes cases without an issued show cause notice on the cut off subject to the new penal regime, and no penalty under the former provision may be collected after the omission date without initiation of proceedings under the revised provisions. en-us Mon, 06 Jul 2015 18:19:07 +0530 Thu, 23 Jan 2025 15:56:49 +0530 TaxTMI RSS Generator https://www.taxtmi.com/forum/issue?id=108856 Omission of the erstwhile penalty provision took effect prospectively; the old penalty applies only to pre omission periods if its elements (suppression or willful misstatement) are present. Section 78B's transitory scheme makes cases without an issued show cause notice on the cut off subject to the new penal regime, and no penalty under the former provision may be collected after the omission date without initiation of proceedings under the revised provisions. Discussion-Forum Service Tax Mon, 06 Jul 2015 18:19:07 +0530 https://www.taxtmi.com/forum/issue?id=108856