https://www.taxtmi.com/caselaws?id=447381 CESTAT Kolkata allowed the appeal and set aside penalties imposed under Sections 77 and 78 of Finance Act, 1994. The assessee had paid service tax and interest before SCN issuance, making penalty under Section 78 unwarranted per established precedent. Regarding godown rent classification, the tribunal held land used for vehicle parking by bank was exempt from RIPS under specific exclusion clause. Since demand was unsustainable and returns were filed regularly, penalty under Section 77 was also inappropriate. All penalties and demands were set aside. en-us Fri, 08 Dec 2023 00:00:00 +0530 Mon, 25 Dec 2023 09:24:28 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=447381 CESTAT Kolkata allowed the appeal and set aside penalties imposed under Sections 77 and 78 of Finance Act, 1994. The assessee had paid service tax and interest before SCN issuance, making penalty under Section 78 unwarranted per established precedent. Regarding godown rent classification, the tribunal held land used for vehicle parking by bank was exempt from RIPS under specific exclusion clause. Since demand was unsustainable and returns were filed regularly, penalty under Section 77 was also inappropriate. All penalties and demands were set aside. Case-Laws Service Tax Fri, 08 Dec 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=447381