https://www.taxtmi.com/caselaws?id=184756 The Tribunal ruled in favor of the appellants, setting aside penalties imposed under Sections 76 and 78 of the Finance Act, 1994. The appellants, while not disputing tax liability, challenged penalties for late payment, citing a friendly tax scheme. The Tribunal found the appellants eligible under the scheme, as they paid tax and interest before the deadline, aligning with previous precedents where penalties were waived for timely tax payment. Consequently, the penalties were overturned, and the appeal was allowed with consequential relief. en-us Tue, 05 Dec 2006 00:00:00 +0530 Tue, 19 Jul 2016 12:53:50 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=184756 The Tribunal ruled in favor of the appellants, setting aside penalties imposed under Sections 76 and 78 of the Finance Act, 1994. The appellants, while not disputing tax liability, challenged penalties for late payment, citing a friendly tax scheme. The Tribunal found the appellants eligible under the scheme, as they paid tax and interest before the deadline, aligning with previous precedents where penalties were waived for timely tax payment. Consequently, the penalties were overturned, and the appeal was allowed with consequential relief. Case-Laws Service Tax Tue, 05 Dec 2006 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=184756