https://www.taxtmi.com/caselaws?id=11 Section 77 of the Finance Act, 1994 was construed to mean that the defaulting person is liable to a minimum penalty of Rs. 100, while the higher amount of up to Rs. 200 applies for each day the failure continues. The phrase "for every day" was held to qualify only the maximum figure, not the minimum amount. On that reading, the reduction of penalty to Rs. 1,000 in each case was upheld and the Revenue's appeals were rejected. en-us Thu, 29 Oct 1998 00:00:00 +0530 Tue, 01 Jul 2008 16:31:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=11 Section 77 of the Finance Act, 1994 was construed to mean that the defaulting person is liable to a minimum penalty of Rs. 100, while the higher amount of up to Rs. 200 applies for each day the failure continues. The phrase "for every day" was held to qualify only the maximum figure, not the minimum amount. On that reading, the reduction of penalty to Rs. 1,000 in each case was upheld and the Revenue's appeals were rejected. Case-Laws Service Tax Thu, 29 Oct 1998 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=11