https://www.taxtmi.com/caselaws?id=289589 Penalty under Sections 76 and 77 of the Finance Act, 1994 was held unsustainable where the breach was only technical and the record disclosed no intention to evade tax or knowingly violate the law. The tribunal found that the lapse was not serious enough to warrant even a token penalty, and no compelling reason was shown to sustain the levy. The penalties were therefore set aside, the cross-objection was allowed, and no penalty survived against the respondents. en-us Mon, 05 Mar 2007 00:00:00 +0530 Fri, 07 Aug 2020 16:04:24 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=289589 Penalty under Sections 76 and 77 of the Finance Act, 1994 was held unsustainable where the breach was only technical and the record disclosed no intention to evade tax or knowingly violate the law. The tribunal found that the lapse was not serious enough to warrant even a token penalty, and no compelling reason was shown to sustain the levy. The penalties were therefore set aside, the cross-objection was allowed, and no penalty survived against the respondents. Case-Laws Service Tax Mon, 05 Mar 2007 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=289589