https://www.taxtmi.com/highlights?id=68672 Levy of penalties u/s 77 and 78 of the Finance Act, 1994 - An assessee who has suppressed figures in their account or issued parallel invoices so as to evade the payment of tax will not be covered under sub-section (3) of Section 73 of the Finance Act, 1994. Here, apart from a vague allegation, there is no evidence that the appellant has suppressed facts with the intent to evade payment of tax. - The penalties imposed are unwarranted and require to be set aside - AT en-us Sat, 11 Mar 2023 08:47:17 +0530 Sat, 11 Mar 2023 08:47:17 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=68672 Levy of penalties u/s 77 and 78 of the Finance Act, 1994 - An assessee who has suppressed figures in their account or issued parallel invoices so as to evade the payment of tax will not be covered under sub-section (3) of Section 73 of the Finance Act, 1994. Here, apart from a vague allegation, there is no evidence that the appellant has suppressed facts with the intent to evade payment of tax. - The penalties imposed are unwarranted and require to be set aside - AT Highlights Service Tax Sat, 11 Mar 2023 08:47:17 +0530 https://www.taxtmi.com/highlights?id=68672