https://www.taxtmi.com/caselaws?id=327963 The Tribunal upheld the penalty imposed under Section 78 of the Finance Act, 1994 on the appellant for failing to deposit service tax collected from customers, despite financial difficulties cited as the reason. The appellant's argument invoking Section 80 for reasonable cause was deemed unconvincing, with the Tribunal finding their actions reflected malafide intentions. Previous cases were referenced to support penalty imposition in such instances, emphasizing the importance of timely depositing service tax. The appeal was rejected, affirming the penalty under Section 78. en-us Fri, 13 May 2016 00:00:00 +0530 Mon, 23 May 2016 09:57:44 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=327963 The Tribunal upheld the penalty imposed under Section 78 of the Finance Act, 1994 on the appellant for failing to deposit service tax collected from customers, despite financial difficulties cited as the reason. The appellant's argument invoking Section 80 for reasonable cause was deemed unconvincing, with the Tribunal finding their actions reflected malafide intentions. Previous cases were referenced to support penalty imposition in such instances, emphasizing the importance of timely depositing service tax. The appeal was rejected, affirming the penalty under Section 78. Case-Laws Service Tax Fri, 13 May 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=327963