https://www.taxtmi.com/caselaws?id=335698 The Tribunal set aside the penalty imposed on the appellants concerning tax liability on a reverse charge basis under Section 66A of the Finance Act, 1994, and the imposition of penalty under Section 80 of the same Act. The Tribunal considered the lack of malafide intent on the appellants' part, the clarification of the law by the Bombay High Court, and previous judgments in the appellants' favor. The demand was confirmed along with interest, but the penalty was overturned, emphasizing fairness and adherence to legal provisions and precedents. en-us Mon, 24 Oct 2016 00:00:00 +0530 Wed, 30 Nov 2016 16:10:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=335698 The Tribunal set aside the penalty imposed on the appellants concerning tax liability on a reverse charge basis under Section 66A of the Finance Act, 1994, and the imposition of penalty under Section 80 of the same Act. The Tribunal considered the lack of malafide intent on the appellants' part, the clarification of the law by the Bombay High Court, and previous judgments in the appellants' favor. The demand was confirmed along with interest, but the penalty was overturned, emphasizing fairness and adherence to legal provisions and precedents. Case-Laws Service Tax Mon, 24 Oct 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=335698