2012 (7) TMI 411

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....mon dispute is whether penalty under Section 76 of Finance Act, 1994 shall be leviable, when the appellant says that taxes were paid leaving short amount of recovery on adjudication, learned Counsel submits that major amount of tax was paid when the appellant came to know that its liability arose. What that was left for recovery is small amount. So also there is a case for appellant to argue that ....

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....llant's submission may be correct to hold that it was not defaulter to the extent deposited with Revenue. But for the shortfall, the appellant is answerable under the law. 5. Since the appellant prays that it has a case for consideration under Section 80 of the Finance Act, 1994 it is desirable to bring to record about the date on which liability arose, date of return ought to have been filed, da....