https://www.taxtmi.com/caselaws?id=374396 The Tribunal invoked Section 80 of the Finance Act, 1994, to set aside the penalty under Section 76 due to financial hardships faced by the appellants, who intended to comply with tax obligations. However, the penalty under Section 77 was upheld for non-compliance with tax payment regulations. The decision aligned with precedents where penalties were waived based on reasonable causes for tax payment delays, ensuring a fair assessment of tax liabilities and penalties considering the appellants' circumstances. en-us Mon, 28 Jan 2019 00:00:00 +0530 Fri, 01 Feb 2019 10:14:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=374396 The Tribunal invoked Section 80 of the Finance Act, 1994, to set aside the penalty under Section 76 due to financial hardships faced by the appellants, who intended to comply with tax obligations. However, the penalty under Section 77 was upheld for non-compliance with tax payment regulations. The decision aligned with precedents where penalties were waived based on reasonable causes for tax payment delays, ensuring a fair assessment of tax liabilities and penalties considering the appellants' circumstances. Case-Laws Service Tax Mon, 28 Jan 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=374396