https://www.taxtmi.com/caselaws?id=418483 The Tribunal set aside the order confirming a penalty disproportionate to the tax liability, emphasizing the need for reasonable and proportionate penalties in line with corrective deterrence objectives. The appellant's challenges regarding penalty quantification and principles of natural justice in penalty calculation were considered, leading to a reevaluation of the penalty amount deducted from the refund. The Tribunal highlighted that penalties exceeding the tax liability amount could be unreasonable and disproportionate, emphasizing fairness and just principles in penalty imposition under Section 77 of the Finance Act, 1994. en-us Wed, 16 Feb 2022 00:00:00 +0530 Tue, 18 Oct 2022 12:29:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=418483 The Tribunal set aside the order confirming a penalty disproportionate to the tax liability, emphasizing the need for reasonable and proportionate penalties in line with corrective deterrence objectives. The appellant's challenges regarding penalty quantification and principles of natural justice in penalty calculation were considered, leading to a reevaluation of the penalty amount deducted from the refund. The Tribunal highlighted that penalties exceeding the tax liability amount could be unreasonable and disproportionate, emphasizing fairness and just principles in penalty imposition under Section 77 of the Finance Act, 1994. Case-Laws Service Tax Wed, 16 Feb 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=418483