https://www.taxtmi.com/caselaws?id=263383 The Appellate Tribunal CESTAT NEW DELHI partially allowed the appeal, setting aside the penalty under Section 76 but upholding the penalty under Section 78 of the Finance Act 1994. The appellant was granted the option to pay 25% of the penalty under Section 78 within 30 days. The judgment highlighted the necessity of offering the opportunity for reduced penalty payment and clarified the application of simultaneous penalties under Sections 76 and 78 based on legal interpretations and precedents cited during the proceedings. en-us Thu, 18 Jun 2015 00:00:00 +0530 Thu, 13 Aug 2015 10:14:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=263383 The Appellate Tribunal CESTAT NEW DELHI partially allowed the appeal, setting aside the penalty under Section 76 but upholding the penalty under Section 78 of the Finance Act 1994. The appellant was granted the option to pay 25% of the penalty under Section 78 within 30 days. The judgment highlighted the necessity of offering the opportunity for reduced penalty payment and clarified the application of simultaneous penalties under Sections 76 and 78 based on legal interpretations and precedents cited during the proceedings. Case-Laws Service Tax Thu, 18 Jun 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=263383