https://www.taxtmi.com/caselaws?id=460822 CESTAT Hyderabad set aside penalty imposed under section 78 of Finance Act, 1994 for short-payment of Service Tax under Reverse Charge Mechanism and irregular Cenvat credit availment. The tribunal found no evidence of deliberate suppression or misstatement by the appellant, who had paid Service Tax with interest immediately after audit pointed out discrepancies. Regarding Business Support Service deduction under Pure Agent clause, the tribunal noted appellant failed to fulfill conditions under Rule 5(2) for claiming deduction. However, penalty was set aside due to absence of willful misstatement. The impugned order was set aside and appeal allowed. en-us Fri, 21 Feb 2025 00:00:00 +0530 Thu, 20 Mar 2025 14:10:40 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=460822 CESTAT Hyderabad set aside penalty imposed under section 78 of Finance Act, 1994 for short-payment of Service Tax under Reverse Charge Mechanism and irregular Cenvat credit availment. The tribunal found no evidence of deliberate suppression or misstatement by the appellant, who had paid Service Tax with interest immediately after audit pointed out discrepancies. Regarding Business Support Service deduction under Pure Agent clause, the tribunal noted appellant failed to fulfill conditions under Rule 5(2) for claiming deduction. However, penalty was set aside due to absence of willful misstatement. The impugned order was set aside and appeal allowed. Case-Laws Service Tax Fri, 21 Feb 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=460822