https://www.taxtmi.com/caselaws?id=30520 Section 80 of the Finance Act, 1994 was applied to accept reasonable cause for delayed payment of service tax during the initial period after banking and financial services entered the service tax net from 10-9-2004, so the penalty was reduced. However, the delay continued beyond that initial period, and complete waiver was therefore not justified. The reduced penalty was upheld, while enhancement of penalty was rejected and full deletion was declined. en-us Thu, 20 Dec 2007 00:00:00 +0530 Mon, 01 Sep 2008 00:00:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=30520 Section 80 of the Finance Act, 1994 was applied to accept reasonable cause for delayed payment of service tax during the initial period after banking and financial services entered the service tax net from 10-9-2004, so the penalty was reduced. However, the delay continued beyond that initial period, and complete waiver was therefore not justified. The reduced penalty was upheld, while enhancement of penalty was rejected and full deletion was declined. Case-Laws Service Tax Thu, 20 Dec 2007 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=30520