https://www.taxtmi.com/caselaws?id=2418 The Hon'ble Bombay High Court set aside the Tribunal's decision to uphold a revised penalty of Rs. 53,034 imposed on the assessees for delayed Service Tax payment, remanding the case for a fresh decision. The Tribunal determined that a penalty of Rs. 100 per day was permissible under Sec. 76 of the Finance Act, 1994, citing precedent. As the penalty did not exceed the statutory limit, the Tribunal upheld the revised penalty, rejecting the appeal. en-us Thu, 16 Aug 2007 00:00:00 +0530 Wed, 16 Apr 2008 08:28:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=2418 The Hon'ble Bombay High Court set aside the Tribunal's decision to uphold a revised penalty of Rs. 53,034 imposed on the assessees for delayed Service Tax payment, remanding the case for a fresh decision. The Tribunal determined that a penalty of Rs. 100 per day was permissible under Sec. 76 of the Finance Act, 1994, citing precedent. As the penalty did not exceed the statutory limit, the Tribunal upheld the revised penalty, rejecting the appeal. Case-Laws Service Tax Thu, 16 Aug 2007 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=2418