https://www.taxtmi.com/caselaws?id=341784 Penalty under section 78 of the Finance Act, 1994 was found unsustainable where the dispute was of short duration, invoices were issued, receipts were recorded, tax was otherwise being discharged, and tax with interest was promptly paid; on those facts, suppression with intent to evade was not established and the assessee was entitled to the benefit of section 73(3). CENVAT credit on exercise equipment used for providing the taxable gym service was held admissible, because actual use as an input for the service was ative and the credit could not be denied merely because the goods had initially been classified as capital goods. en-us Fri, 18 Nov 2016 00:00:00 +0530 Tue, 07 Nov 2017 17:02:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=341784 Penalty under section 78 of the Finance Act, 1994 was found unsustainable where the dispute was of short duration, invoices were issued, receipts were recorded, tax was otherwise being discharged, and tax with interest was promptly paid; on those facts, suppression with intent to evade was not established and the assessee was entitled to the benefit of section 73(3). CENVAT credit on exercise equipment used for providing the taxable gym service was held admissible, because actual use as an input for the service was ative and the credit could not be denied merely because the goods had initially been classified as capital goods. Case-Laws Service Tax Fri, 18 Nov 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=341784