https://www.taxtmi.com/caselaws?id=176373 Penalty under Sections 76 and 77 of the Finance Act, 1994 was not sustainable because the service tax and interest had been paid before issuance of the show cause notice. The matter fell within the Board's circular dated 17-12-2004, which treated such defaults as remediable by recovery of tax with interest and excluded penalty absent fraud, collusion, suppression, wilful misstatement or intent to evade. Following the Tribunal's earlier view, the impugned penalty order was set aside in favour of the assessee. en-us Fri, 29 Dec 2006 00:00:00 +0530 Mon, 21 Dec 2015 13:03:54 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=176373 Penalty under Sections 76 and 77 of the Finance Act, 1994 was not sustainable because the service tax and interest had been paid before issuance of the show cause notice. The matter fell within the Board's circular dated 17-12-2004, which treated such defaults as remediable by recovery of tax with interest and excluded penalty absent fraud, collusion, suppression, wilful misstatement or intent to evade. Following the Tribunal's earlier view, the impugned penalty order was set aside in favour of the assessee. Case-Laws Service Tax Fri, 29 Dec 2006 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=176373