https://www.taxtmi.com/caselaws?id=334264 The Tribunal set aside the penalty imposed under section 78 of the Finance Act, 1994, on M/s Chaney & Co for failure to discharge service tax liability promptly. The appellant's argument of unawareness of tax liability, coupled with prompt payment upon discovery, and lack of evidence of suppression or non-remittance from customers, led the Tribunal to accept tax liability computation on a 'cum-tax' basis. Citing precedents, the Tribunal deemed the proceedings unjustified, aligning with the 'cum-tax' method for taxable value computation based on received commission, ultimately annulling the penalty. en-us Wed, 09 Mar 2016 00:00:00 +0530 Tue, 08 Nov 2016 11:05:31 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=334264 The Tribunal set aside the penalty imposed under section 78 of the Finance Act, 1994, on M/s Chaney & Co for failure to discharge service tax liability promptly. The appellant's argument of unawareness of tax liability, coupled with prompt payment upon discovery, and lack of evidence of suppression or non-remittance from customers, led the Tribunal to accept tax liability computation on a 'cum-tax' basis. Citing precedents, the Tribunal deemed the proceedings unjustified, aligning with the 'cum-tax' method for taxable value computation based on received commission, ultimately annulling the penalty. Case-Laws Service Tax Wed, 09 Mar 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=334264