https://www.taxtmi.com/caselaws?id=31481 Section 80 of the Finance Act overrides the penalty provisions in Sections 76, 77 and 78 where an assessee establishes reasonable cause for the failure. On that basis, the appellate authority may reduce or waive penalty, and prompt payment of part of the disputed amount after the discrepancy is pointed out may support that discretion. The CESTAT found no perversity or legal error in the Commissioner (Appeals)' exercise of discretion and sustained the reduced penalty, treating the assessee's reasonable cause plea as sufficient to justify relief from the full penalty. en-us Tue, 03 Jun 2008 00:00:00 +0530 Sat, 15 Nov 2008 00:00:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=31481 Section 80 of the Finance Act overrides the penalty provisions in Sections 76, 77 and 78 where an assessee establishes reasonable cause for the failure. On that basis, the appellate authority may reduce or waive penalty, and prompt payment of part of the disputed amount after the discrepancy is pointed out may support that discretion. The CESTAT found no perversity or legal error in the Commissioner (Appeals)' exercise of discretion and sustained the reduced penalty, treating the assessee's reasonable cause plea as sufficient to justify relief from the full penalty. Case-Laws Service Tax Tue, 03 Jun 2008 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=31481