https://www.taxtmi.com/caselaws?id=32640 The Tribunal found in favor of the appellant, M/s. Essar Steel Ltd., regarding the applicability of service tax on External Commercial Borrowings. The lack of coordination between the company's offices led to the non-payment of service tax, resulting in a loss for the appellant. However, the Tribunal concluded that there was no intention to evade payment of tax, and penalties under Sections 76, 77, and 78 of the Finance Act, 1994, were not justified. The duty and interest were confirmed, while the imposed penalties were set aside, ultimately disposing of the appeal and stay petition. en-us Tue, 04 Nov 2008 00:00:00 +0530 Wed, 08 Apr 2009 09:10:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=32640 The Tribunal found in favor of the appellant, M/s. Essar Steel Ltd., regarding the applicability of service tax on External Commercial Borrowings. The lack of coordination between the company's offices led to the non-payment of service tax, resulting in a loss for the appellant. However, the Tribunal concluded that there was no intention to evade payment of tax, and penalties under Sections 76, 77, and 78 of the Finance Act, 1994, were not justified. The duty and interest were confirmed, while the imposed penalties were set aside, ultimately disposing of the appeal and stay petition. Case-Laws Service Tax Tue, 04 Nov 2008 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=32640