2017 (11) TMI 1335

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....spondent Through: None SANJIV KHANNA, J. (ORAL): Having heard counsel for the appellant, we are not inclined to interfere with the impugned order, which records and affirms on the bona fide conduct of the respondent-assessee, M/s. Indian Railway Finance Corporation. 2. The respondent-Corporation, a Government of India Corporation, was established with an objective to raise money from the marke....

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.... that as per their understanding, they were not liable to pay service tax on the aforesaid fee etc. payable to non-resident financial institutions. No service was rendered by these non-resident financial institutions in India. 6. Nevertheless, to avoid any dispute or controversy, the respondent Corporation had discharged the service tax liability as raised by the appellant amounting to Rs. 1,21,9....

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....uirements for imposition of penalty under Section 78, i.e. fraud, collusion, misstatement, suppression of facts or contravention of any provision of the Act or the Rules made there under, with the intent to evade payment of service tax, was satisfied. It is stated that Section 78 is pari materia with the proviso to Section 73, which provides for extended period for recovery. Payments made by the r....