https://www.taxtmi.com/caselaws?id=30125 Penalty under the Finance Act, 1994 was reduced where the assessee showed reasonable cause for the default and had made part payment promptly after the revenue pointed out the liability. The appellate authority exercised statutory discretion under Section 80 on the surrounding facts and circumstances, and no basis was found to interfere with that relief. The challenge by the revenue therefore failed, affirming that penalty waiver or reduction is justified when reasonable cause and the factual matrix support such discretionary treatment. en-us Tue, 03 Jun 2008 00:00:00 +0530 Sat, 20 Sep 2008 13:44:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=30125 Penalty under the Finance Act, 1994 was reduced where the assessee showed reasonable cause for the default and had made part payment promptly after the revenue pointed out the liability. The appellate authority exercised statutory discretion under Section 80 on the surrounding facts and circumstances, and no basis was found to interfere with that relief. The challenge by the revenue therefore failed, affirming that penalty waiver or reduction is justified when reasonable cause and the factual matrix support such discretionary treatment. Case-Laws Service Tax Tue, 03 Jun 2008 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=30125