https://www.taxtmi.com/caselaws?id=386685 Penalty under the Finance Act, 1994 was held unsustainable where tax and interest were paid before the show cause notice and the notice did not allege suppression, fraud, wilful misstatement or comparable culpable conduct. The liability was detected through audit of returns, and the circumstances indicated bona fide conduct. On those facts, statutory relief from penalty was available and invocation of penalty under section 78 was not justified, so the penalty was set aside in favour of the assessee. en-us Mon, 25 Mar 2019 00:00:00 +0530 Sat, 05 Oct 2019 07:42:01 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=386685 Penalty under the Finance Act, 1994 was held unsustainable where tax and interest were paid before the show cause notice and the notice did not allege suppression, fraud, wilful misstatement or comparable culpable conduct. The liability was detected through audit of returns, and the circumstances indicated bona fide conduct. On those facts, statutory relief from penalty was available and invocation of penalty under section 78 was not justified, so the penalty was set aside in favour of the assessee. Case-Laws Service Tax Mon, 25 Mar 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=386685