https://www.taxtmi.com/caselaws?id=325486 The Tribunal upheld the Commissioner's decision to set aside the penalty under Section 76 of the Finance Act, 1994, due to simultaneous imposition with Section 78 being impermissible. However, the penalty under Section 78 was reduced to 50% of the amount due, subject to prompt payment, considering the Respondent's financial difficulties and timely payments. The impugned orders were upheld with modifications, allowing the Revenue's appeal under specified conditions. en-us Fri, 22 Jan 2016 00:00:00 +0530 Mon, 21 Mar 2016 01:05:03 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=325486 The Tribunal upheld the Commissioner's decision to set aside the penalty under Section 76 of the Finance Act, 1994, due to simultaneous imposition with Section 78 being impermissible. However, the penalty under Section 78 was reduced to 50% of the amount due, subject to prompt payment, considering the Respondent's financial difficulties and timely payments. The impugned orders were upheld with modifications, allowing the Revenue's appeal under specified conditions. Case-Laws Service Tax Fri, 22 Jan 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=325486