https://www.taxtmi.com/caselaws?id=357004 The tribunal upheld the tax liability on commission earned by a National Cooperative Development Corporation for disbursing loans, rejecting the appellant's argument of exemption due to government-mandated welfare activities. Penalties under Sections 76 and 78 were not imposed, considering the appellant's lack of malafide intent. The invocation of Section 80 to contest the demand was rejected, and the limitation period for proceedings was found to bar the demand for the extended period. The tribunal emphasized the appellant's bonafide belief and lack of malafide intent, affirming the tax liability for the normal period. en-us Tue, 06 Feb 2018 00:00:00 +0530 Fri, 16 Mar 2018 10:27:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=357004 The tribunal upheld the tax liability on commission earned by a National Cooperative Development Corporation for disbursing loans, rejecting the appellant's argument of exemption due to government-mandated welfare activities. Penalties under Sections 76 and 78 were not imposed, considering the appellant's lack of malafide intent. The invocation of Section 80 to contest the demand was rejected, and the limitation period for proceedings was found to bar the demand for the extended period. The tribunal emphasized the appellant's bonafide belief and lack of malafide intent, affirming the tax liability for the normal period. Case-Laws Service Tax Tue, 06 Feb 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=357004