https://www.taxtmi.com/caselaws?id=343950 The tribunal set aside penalties imposed under Section 77 and Section 78 of the Finance Act, 1994, in a case involving Business Auxiliary Services provided by the appellants. The tribunal found that the penalties lacked justification as there was no basis for the penalty under Section 77 and insufficient evidence of suppression under Section 78. Considering the appellant's compliance with income tax regulations and the recent removal of service tax exemption on commission agent services, their belief was deemed reasonable. The appeal was allowed, and the revision order imposing penalties was deemed unsustainable. en-us Fri, 12 May 2017 00:00:00 +0530 Thu, 13 Jul 2017 12:23:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=343950 The tribunal set aside penalties imposed under Section 77 and Section 78 of the Finance Act, 1994, in a case involving Business Auxiliary Services provided by the appellants. The tribunal found that the penalties lacked justification as there was no basis for the penalty under Section 77 and insufficient evidence of suppression under Section 78. Considering the appellant's compliance with income tax regulations and the recent removal of service tax exemption on commission agent services, their belief was deemed reasonable. The appeal was allowed, and the revision order imposing penalties was deemed unsustainable. Case-Laws Service Tax Fri, 12 May 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=343950