2016 (9) TMI 240

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....he appellant Shri S.L. Karolia, Asstt. Commissioner (AR) for the respondent ORDER This appeal is directed against Order-in-Appeal No: AKP/57/ NSK/2011 dated 18/03/2011 passed by the Commissioner of Central Excise & Customs (Appeals), Nasik. 2. Heard both sides and perused the records. 3. The issue that arises for our consideration is regarding the undervaluation of the amounts recei....

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....ies by invoking the provisions of Section 80 of the Finance Act 1994. 6. Since the appellant is not contesting the tax liability on merits and has discharged the same along with interest, the said tax liability is upheld for the period in question. As regards penalty, we find that appellant could have, in the facts and circumstances of this case, entertained a bona fide belief that service tax ....