https://www.taxtmi.com/caselaws?id=366521 The Tribunal set aside the penalty imposed under Section 76 of the Finance Act, 1994, in favor of the appellant. Despite the appellant's failure to discharge tax liability within the stipulated time frame, timely payment before the show-cause notice and financial constraints warranted the waiver of penalty under Section 80. Citing a previous decision where penalties were waived under Section 80 due to financial difficulties, the Tribunal extended the benefit to the appellant, emphasizing their genuine intention to fulfill tax obligations despite financial challenges. en-us Tue, 28 Aug 2018 00:00:00 +0530 Thu, 06 Sep 2018 08:45:45 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=366521 The Tribunal set aside the penalty imposed under Section 76 of the Finance Act, 1994, in favor of the appellant. Despite the appellant's failure to discharge tax liability within the stipulated time frame, timely payment before the show-cause notice and financial constraints warranted the waiver of penalty under Section 80. Citing a previous decision where penalties were waived under Section 80 due to financial difficulties, the Tribunal extended the benefit to the appellant, emphasizing their genuine intention to fulfill tax obligations despite financial challenges. Case-Laws Service Tax Tue, 28 Aug 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=366521