https://www.taxtmi.com/caselaws?id=333263 The Appellate Tribunal upheld the original adjudicating authority's waiver of penalties under Section 80 of the Finance Act, 1994, emphasizing the bona fide belief of the assessee and the absence of intent to evade tax. The Commissioner's decision to set aside the waiver was deemed erroneous as it was not solely based on relevant circulars but on the merits of the case. The Tribunal highlighted the limitations on the Commissioner's revisionary powers, stating that if penalties were not imposed initially, the revisional authority cannot intervene to impose them later. en-us Thu, 29 Sep 2016 00:00:00 +0530 Wed, 05 Oct 2016 13:14:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=333263 The Appellate Tribunal upheld the original adjudicating authority's waiver of penalties under Section 80 of the Finance Act, 1994, emphasizing the bona fide belief of the assessee and the absence of intent to evade tax. The Commissioner's decision to set aside the waiver was deemed erroneous as it was not solely based on relevant circulars but on the merits of the case. The Tribunal highlighted the limitations on the Commissioner's revisionary powers, stating that if penalties were not imposed initially, the revisional authority cannot intervene to impose them later. Case-Laws Service Tax Thu, 29 Sep 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=333263