https://www.taxtmi.com/caselaws?id=263589 The Appellate Tribunal CESTAT Bangalore set aside the penalties imposed by the Commissioner under Sections 76, 77 & 78 of the Finance Act 1994, citing the necessity for specific ingredients for penalty imposition and the requirement of the absence of reasonable cause for non-compliance. The Tribunal emphasized the distinct nature of penalties under Sections 76 and 78, highlighting that penalties under Section 78 preclude the application of Section 76. Additionally, it clarified that penalties cannot be imposed if a reasonable cause is demonstrated by the assessee, as per Section 80 of the Act. The appeals were allowed, and the impugned orders were overturned. en-us Tue, 03 Mar 2015 00:00:00 +0530 Sat, 05 Sep 2015 17:23:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=263589 The Appellate Tribunal CESTAT Bangalore set aside the penalties imposed by the Commissioner under Sections 76, 77 & 78 of the Finance Act 1994, citing the necessity for specific ingredients for penalty imposition and the requirement of the absence of reasonable cause for non-compliance. The Tribunal emphasized the distinct nature of penalties under Sections 76 and 78, highlighting that penalties under Section 78 preclude the application of Section 76. Additionally, it clarified that penalties cannot be imposed if a reasonable cause is demonstrated by the assessee, as per Section 80 of the Act. The appeals were allowed, and the impugned orders were overturned. Case-Laws Service Tax Tue, 03 Mar 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=263589