https://www.taxtmi.com/caselaws?id=335586 The Tribunal overturned penalties imposed on the appellant under Sections 76 and 77 of the Finance Act, 1994 for payments made towards membership fees and information services. While acknowledging the tax liability, the Tribunal found the penalties unwarranted due to lack of clarity on taxability pre-July 1, 2012, and the appellant's compliance post that date. The appellant's genuine belief regarding non-registration and non-filing of returns led to the Tribunal setting aside penalties under Section 77 as well. The decision maintained the tax liability and interest but annulled the imposed penalties. en-us Tue, 29 Nov 2016 00:00:00 +0530 Sat, 04 Mar 2017 15:07:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=335586 The Tribunal overturned penalties imposed on the appellant under Sections 76 and 77 of the Finance Act, 1994 for payments made towards membership fees and information services. While acknowledging the tax liability, the Tribunal found the penalties unwarranted due to lack of clarity on taxability pre-July 1, 2012, and the appellant's compliance post that date. The appellant's genuine belief regarding non-registration and non-filing of returns led to the Tribunal setting aside penalties under Section 77 as well. The decision maintained the tax liability and interest but annulled the imposed penalties. Case-Laws Service Tax Tue, 29 Nov 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=335586