https://www.taxtmi.com/caselaws?id=336418 The Tribunal set aside the penalty imposed on the appellant under Section 76 of the Finance Act, 1994, as there was no intention to evade tax, and the underpayment was due to an inadvertent accounting mistake. The appellant had correctly reported the consideration subject to service tax in their returns, indicating no mala fide intent. Relying on a precedent where a similar mistake led to unjustified penalty imposition, the Tribunal ruled in favor of the appellant, holding that the penalty was not justified in the circumstances of the case. en-us Fri, 04 Nov 2016 00:00:00 +0530 Tue, 20 Dec 2016 15:41:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=336418 The Tribunal set aside the penalty imposed on the appellant under Section 76 of the Finance Act, 1994, as there was no intention to evade tax, and the underpayment was due to an inadvertent accounting mistake. The appellant had correctly reported the consideration subject to service tax in their returns, indicating no mala fide intent. Relying on a precedent where a similar mistake led to unjustified penalty imposition, the Tribunal ruled in favor of the appellant, holding that the penalty was not justified in the circumstances of the case. Case-Laws Service Tax Fri, 04 Nov 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=336418