https://www.taxtmi.com/caselaws?id=345238 The Tribunal set aside penalties imposed under Sections 76 and 78 of the Finance Act, 1994, in a case concerning service tax on bus supply to a transport corporation. The appellant's delayed tax payment was deemed reasonable due to initial confusion on tax applicability, supported by a previous Supreme Court judgment. Relying on Section 80 of the Finance Act, the Tribunal allowed the appeal, emphasizing the precedent of dropping penalties for similar situations. This decision underscores the Tribunal's acknowledgment of confusion during the tax levy's early stages and the allowance for reasonable cause in tax payment delays. en-us Fri, 07 Jul 2017 00:00:00 +0530 Sat, 05 Aug 2017 11:53:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=345238 The Tribunal set aside penalties imposed under Sections 76 and 78 of the Finance Act, 1994, in a case concerning service tax on bus supply to a transport corporation. The appellant's delayed tax payment was deemed reasonable due to initial confusion on tax applicability, supported by a previous Supreme Court judgment. Relying on Section 80 of the Finance Act, the Tribunal allowed the appeal, emphasizing the precedent of dropping penalties for similar situations. This decision underscores the Tribunal's acknowledgment of confusion during the tax levy's early stages and the allowance for reasonable cause in tax payment delays. Case-Laws Service Tax Fri, 07 Jul 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=345238