https://www.taxtmi.com/caselaws?id=368302 The tribunal upheld the penalties under Sections 76 and 78 of the Finance Act, 1994, against the appellants for misappropriation of service tax collected but not deposited. The tribunal rejected the plea of financial hardship as a valid reason for non-payment. The impugned orders were deemed justified despite partial deposits made by the appellants, as significant amounts remained outstanding. The tribunal dismissed the appeals, confirming the penalties and demands, emphasizing the importance of timely tax compliance and rejecting financial hardship as an excuse for non-payment. en-us Fri, 28 Sep 2018 00:00:00 +0530 Sat, 20 Oct 2018 14:42:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=368302 The tribunal upheld the penalties under Sections 76 and 78 of the Finance Act, 1994, against the appellants for misappropriation of service tax collected but not deposited. The tribunal rejected the plea of financial hardship as a valid reason for non-payment. The impugned orders were deemed justified despite partial deposits made by the appellants, as significant amounts remained outstanding. The tribunal dismissed the appeals, confirming the penalties and demands, emphasizing the importance of timely tax compliance and rejecting financial hardship as an excuse for non-payment. Case-Laws Service Tax Fri, 28 Sep 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=368302