https://www.taxtmi.com/caselaws?id=364290 The tribunal ruled in favor of the appellant, setting aside the penalties imposed under Sections 77(1)(a) and 78 of the Finance Act, 1994, due to a genuine misunderstanding regarding the applicable tax rate. The tribunal upheld the demand for interest on delayed payment of service tax, citing that interest liability arises automatically. The tribunal also found reasonable cause for the appellant's actions, invoking Section 80 of the Finance Act, 1994, to waive the penalties. en-us Mon, 18 Jun 2018 00:00:00 +0530 Thu, 26 Jul 2018 08:53:18 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=364290 The tribunal ruled in favor of the appellant, setting aside the penalties imposed under Sections 77(1)(a) and 78 of the Finance Act, 1994, due to a genuine misunderstanding regarding the applicable tax rate. The tribunal upheld the demand for interest on delayed payment of service tax, citing that interest liability arises automatically. The tribunal also found reasonable cause for the appellant's actions, invoking Section 80 of the Finance Act, 1994, to waive the penalties. Case-Laws Service Tax Mon, 18 Jun 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=364290