https://www.taxtmi.com/highlights?id=55505 Demand of service tax - SEBI - ‘negative list regime’ - demand of tax on the fees collected - We cannot but withhold our ascertainment of the legality of the claim made by the appellant before us. - it is difficult to conceive of any motive in not complying with tax liabilities. There is also no allegation of suppression or misrepresentation by the appellant. - The demand for the period beyond normal limitation, therefore, does not sustain - Consequently, the penalty under section 78 of Finance Act, 1994 is set aside. - AT en-us Fri, 13 Nov 2020 20:21:19 +0530 Fri, 13 Nov 2020 20:21:19 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=55505 Demand of service tax - SEBI - ‘negative list regime’ - demand of tax on the fees collected - We cannot but withhold our ascertainment of the legality of the claim made by the appellant before us. - it is difficult to conceive of any motive in not complying with tax liabilities. There is also no allegation of suppression or misrepresentation by the appellant. - The demand for the period beyond normal limitation, therefore, does not sustain - Consequently, the penalty under section 78 of Finance Act, 1994 is set aside. - AT Highlights Service Tax Fri, 13 Nov 2020 20:21:19 +0530 https://www.taxtmi.com/highlights?id=55505