https://www.taxtmi.com/caselaws?id=2529 The Tribunal dismissed the Revenue's appeal against the waiver of penalties under Section 76 and Section 77 of the Finance Act, 1994. It was determined that the delay in discharging tax liabilities was not deliberate, considering the confusion surrounding the new levy of Service Tax. Emphasizing the applicability of Section 80 of the Finance Act, 1994, which exonerates penalties in case of a reasonable cause, the Tribunal upheld the lower Appellate Authority's decision to waive the penalty, stating it was reasonable and just. en-us Mon, 19 Mar 2007 00:00:00 +0530 Mon, 30 Jun 2008 15:50:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=2529 The Tribunal dismissed the Revenue's appeal against the waiver of penalties under Section 76 and Section 77 of the Finance Act, 1994. It was determined that the delay in discharging tax liabilities was not deliberate, considering the confusion surrounding the new levy of Service Tax. Emphasizing the applicability of Section 80 of the Finance Act, 1994, which exonerates penalties in case of a reasonable cause, the Tribunal upheld the lower Appellate Authority's decision to waive the penalty, stating it was reasonable and just. Case-Laws Service Tax Mon, 19 Mar 2007 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=2529