https://www.taxtmi.com/caselaws?id=335211 The Tribunal set aside the penalties imposed under Sections 76 and 78 of the Finance Act, 1994, in favor of the appellant, a public sector undertaking. The appellant's reliance on professional advice, timely payment of the tax liability upon realizing the error, and lack of intent to evade tax led the Tribunal to invoke Section 80 of the Act, recognizing reasonable cause for the initial failure to discharge the Service Tax liability. en-us Thu, 13 Oct 2016 00:00:00 +0530 Thu, 13 Apr 2017 10:18:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=335211 The Tribunal set aside the penalties imposed under Sections 76 and 78 of the Finance Act, 1994, in favor of the appellant, a public sector undertaking. The appellant's reliance on professional advice, timely payment of the tax liability upon realizing the error, and lack of intent to evade tax led the Tribunal to invoke Section 80 of the Act, recognizing reasonable cause for the initial failure to discharge the Service Tax liability. Case-Laws Service Tax Thu, 13 Oct 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=335211