2013 (2) TMI 411

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....puty Commissioner (AR) for the respondent   Mr. P.G. Chacko, J.   On a perusal of the records and hearing both sides, I have found strong prima facie case for the appellant against the penalty imposed on them under Section 76 of the Finance Act 1994. I have also found that the simple issue arising in this case is already covered by a judgment of the jurisdictional High Court. Ther....

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....ng authority imposed a penalty of Rs. 200/- per day of default or at the rate of 2% of service tax, whichever is higher. An appeal filed by the assessee against this penalty came to be dismissed by the Commissioner (Appeals). The appellant quantifies the penalty at Rs. 63,800/- for purposes of waiver and stay.   3. The judgment relied on by the learned counsel for the appellant is CCE & ST....

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....artment. At the same time, it is not in dispute that the facts of the instant case are similar to those of the case considered by the Hon'ble High Court. Hence the Hon'ble High Court s ruling has to be followed.   4. Apart from the above, as rightly pointed out by the learned counsel for the appellant, an explanation added to Section 73(3) of the Finance Act 1994 by Parliament vide the Fin....