https://www.taxtmi.com/caselaws?id=343351 The Tribunal set aside the penalties imposed under Sections 76 and 78 of the Finance Act, 1994, while upholding the service tax liability with interest. It determined that the case warranted closure under Section 73(3) due to the appellant's prompt payment upon notification, emphasizing the absence of deliberate intention or fraud. The Tribunal highlighted the need for specific elements like intention to evade tax for penal provisions to apply, considering the appellant's nature as a public sector undertaking and the subsidiary unit's entitlement to tax credits. en-us Thu, 13 Apr 2017 00:00:00 +0530 Thu, 09 Nov 2017 15:27:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=343351 The Tribunal set aside the penalties imposed under Sections 76 and 78 of the Finance Act, 1994, while upholding the service tax liability with interest. It determined that the case warranted closure under Section 73(3) due to the appellant's prompt payment upon notification, emphasizing the absence of deliberate intention or fraud. The Tribunal highlighted the need for specific elements like intention to evade tax for penal provisions to apply, considering the appellant's nature as a public sector undertaking and the subsidiary unit's entitlement to tax credits. Case-Laws Service Tax Thu, 13 Apr 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=343351