https://www.taxtmi.com/caselaws?id=385305 The Tribunal ruled in favor of the appellant, finding that the penalty equal to the proportionate credit imposed under Section 78 of the Finance Act, 1994 was unsustainable due to the lack of intent to evade duty. The appellant had promptly reversed credit, paid penalties, and complied with necessary procedures, leading the Tribunal to set aside the penalty and allow the appeal. The Tribunal also emphasized the absence of willful suppression of facts, ultimately ruling against the imposition of the penalty under Section 78. en-us Tue, 13 Aug 2019 00:00:00 +0530 Mon, 02 Sep 2019 19:51:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=385305 The Tribunal ruled in favor of the appellant, finding that the penalty equal to the proportionate credit imposed under Section 78 of the Finance Act, 1994 was unsustainable due to the lack of intent to evade duty. The appellant had promptly reversed credit, paid penalties, and complied with necessary procedures, leading the Tribunal to set aside the penalty and allow the appeal. The Tribunal also emphasized the absence of willful suppression of facts, ultimately ruling against the imposition of the penalty under Section 78. Case-Laws Service Tax Tue, 13 Aug 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=385305