2018 (9) TMI 1277

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....ikeya Narain (Advocate) for Appellant Shri Mohd. Altaf (Asstt. Commr.) AR for Respondent ORDER Per: Archana Wadhwa Only challenge in the present appeal is to penalty imposed upon the appellant in terms of provisions of Section 78 of the Finance Act, 1994. 2. The appellant is engaged in providing services falling under the category of 'Banking and Financial Services' and is duly regi....

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.... that there was a bona fide reason for them to entertain the reasonable belief that the services which have been provided by them to the State Governments, would not be taxable. There is no evidence on record to reflect upon any mala fide of the assessee so as to invoke the penal provisions against them. Further the appellant is a public sector undertakings of Government of India and as such canno....