https://www.taxtmi.com/caselaws?id=33444 Section 80 of the Finance Act, 1994 was applied to treat first-time default under a newly introduced service tax levy, together with prompt discharge of tax and interest, as reasonable cause for reducing the penalty under Section 76. The assessee's self-employment and unfamiliarity with the new regime were treated as mitigating factors, so the penalty was reduced. No sufficient ground was found to interfere with the separate penalty under Section 77, which was therefore maintained. en-us Thu, 11 Dec 2008 00:00:00 +0530 Sat, 22 May 2010 10:34:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=33444 Section 80 of the Finance Act, 1994 was applied to treat first-time default under a newly introduced service tax levy, together with prompt discharge of tax and interest, as reasonable cause for reducing the penalty under Section 76. The assessee's self-employment and unfamiliarity with the new regime were treated as mitigating factors, so the penalty was reduced. No sufficient ground was found to interfere with the separate penalty under Section 77, which was therefore maintained. Case-Laws Service Tax Thu, 11 Dec 2008 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=33444