https://www.taxtmi.com/caselaws?id=343947 The Tribunal allowed the appeal, setting aside the penalty imposed under Section 78 of the Finance Act. It held that the appellant, a Public Sector Undertaking and nationalized bank, did not demonstrate any deliberate evasion of tax. The Tribunal found no suppression of facts warranting the penalty, considering the appellant's adherence to regulatory norms and corrective actions. The judgment emphasized the absence of intent to evade tax and overturned the penalty, providing consequential relief to the appellant. en-us Tue, 28 Mar 2017 00:00:00 +0530 Mon, 05 Jun 2017 07:13:24 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=343947 The Tribunal allowed the appeal, setting aside the penalty imposed under Section 78 of the Finance Act. It held that the appellant, a Public Sector Undertaking and nationalized bank, did not demonstrate any deliberate evasion of tax. The Tribunal found no suppression of facts warranting the penalty, considering the appellant's adherence to regulatory norms and corrective actions. The judgment emphasized the absence of intent to evade tax and overturned the penalty, providing consequential relief to the appellant. Case-Laws Service Tax Tue, 28 Mar 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=343947