2015 (9) TMI 1605

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....ugan, AC (AR) ORDER Learned counsel says that levy on renting of immovable property was under confusion. That was ultimately crystallized by retrospective amendment to the Finance Act, 2010. The appellant therefore has suffered penalty for belated payment but no reason of deliberate evasion attributable to it. He fairly submits that taxes were collected as a precautionary measure to protect ....

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.... the apex court in the case of J. K. Spinning and Weaving Mills Ltd., and Anr. Vs Union of India and Ors., reported in 1987 (32) E.L.T.234 (S.C.), appellant should not be penalized. 2. Revenue's only submission is that once there was default, penalty should follow under Section 78 of the Finance Act, 1994. 3. Heard both sides and perused the records. 4. The conduct of the assessee does no....