https://www.taxtmi.com/caselaws?id=351456 Penalty under Section 78 of the Finance Act, 1994 was held not leviable for non-payment of service tax on reverse charge basis in respect of payments to non-resident financial institutions. Voluntary payment of the tax and interest, including discharge of tax for an earlier period, was treated as evidence of bona fides and was not enough, by itself, to prove fraud, collusion, wilful misstatement, suppression of facts, or intent to evade tax. The Tribunal's assessment of the assessee's conduct was treated as a finding of fact, and no ground was found to interfere with that conclusion. en-us Fri, 10 Nov 2017 00:00:00 +0530 Fri, 06 Apr 2018 15:49:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=351456 Penalty under Section 78 of the Finance Act, 1994 was held not leviable for non-payment of service tax on reverse charge basis in respect of payments to non-resident financial institutions. Voluntary payment of the tax and interest, including discharge of tax for an earlier period, was treated as evidence of bona fides and was not enough, by itself, to prove fraud, collusion, wilful misstatement, suppression of facts, or intent to evade tax. The Tribunal's assessment of the assessee's conduct was treated as a finding of fact, and no ground was found to interfere with that conclusion. Case-Laws Service Tax Fri, 10 Nov 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=351456