https://www.taxtmi.com/caselaws?id=268538 The Tribunal partially allowed the appeal by a Government Technical Educational Institution, waiving penalties under Section 76 but upholding penalties under Section 77 of the Finance Act, 1994, and Rule 15(3) of CCR, 2004, due to failure to maintain separate accounts for availed Cenvat credit. The institution's compliance history, lack of malafide intention, and prompt payment upon discovery influenced the decision. The case emphasizes the necessity of proper accounting for credits and the significance of disclosure and cooperation in tax matters, illustrating a balanced approach by the Tribunal. en-us Wed, 14 Oct 2015 00:00:00 +0530 Sat, 17 Sep 2016 15:19:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=268538 The Tribunal partially allowed the appeal by a Government Technical Educational Institution, waiving penalties under Section 76 but upholding penalties under Section 77 of the Finance Act, 1994, and Rule 15(3) of CCR, 2004, due to failure to maintain separate accounts for availed Cenvat credit. The institution's compliance history, lack of malafide intention, and prompt payment upon discovery influenced the decision. The case emphasizes the necessity of proper accounting for credits and the significance of disclosure and cooperation in tax matters, illustrating a balanced approach by the Tribunal. Case-Laws Service Tax Wed, 14 Oct 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=268538