https://www.taxtmi.com/caselaws?id=362770 Penalty was held unwarranted where the disputed credit had been disclosed in ER-1 returns, reversed with interest immediately after the irregularity was pointed out, and had been taken under a wrong impression of law. The disclosure and prompt reversal indicated no intention to evade duty, and there was no material to establish suppression of facts. On that basis, the foundation for penalty was not made out and the penalty was set aside. en-us Wed, 04 Apr 2018 00:00:00 +0530 Tue, 03 Jul 2018 11:17:23 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=362770 Penalty was held unwarranted where the disputed credit had been disclosed in ER-1 returns, reversed with interest immediately after the irregularity was pointed out, and had been taken under a wrong impression of law. The disclosure and prompt reversal indicated no intention to evade duty, and there was no material to establish suppression of facts. On that basis, the foundation for penalty was not made out and the penalty was set aside. Case-Laws Service Tax Wed, 04 Apr 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=362770