2016 (9) TMI 44

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....or the Applicants Ms. Suchitra Sharma, DR for the Respondent ORDER Per Archana Wadhwa: Nobody appeared for the appellant. Accordingly, I heard the Ld. AR for the Revenue and have gone through the impugned orders. Both the appeals are being disposed of by a common order, as they arise out of the same set of facts and circumstances. 2. As per the facts on record appellant is registere....

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.... the initiation of the proceedings. 4. During the adjudication, the appellant placed certain reconciliation statement on record and the demand was reduced to Rs. 1,02,648/- along with imposition of penalties to the extent of Rs. 25,662/- i.e. to the extent of 25% of duty confirmed under section 78 of the Finance Act and of Rs. 200 per day or 2%, whichever was higher, in terms of section 76 of t....

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.... 7. After carefully going through the impugned orders as also the memo of appeal and after carefully considering the submission made by the Ld. AR, I find that the appellant is a company incorporated under the Companies Act and are under legal obligation to maintain profit and loss account as also to prepare a balance sheet. It is their contention that they have to maintain their Books of Account....

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....lance sheet entries and the value as reflected in ST-3 returns are based upon different accounting system, and when the entire value stands reflected in the balance sheet, I am of the view that the difference in the value of services cannot be attributed to any malafide on the part of the assessee. The appellant, by agreeing to the audit view deposited the tax immediately. In such a scenario, in f....