Section 80 of the Finance Act, 1994 envisages a complete waiver of penalty once reasonable cause of failure is established and the same cannot be applied to reduce partially minimum penalties prescribed u/s. 76 and 78 of Finance Act, 1994
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Pathik Shah
Aug 4, 2016, 1:41:56 AM8/4/16
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2016 (42) STR 401 (S.C) Commissioner of Service Tax, Mumbai vs. Lark Chemicals P. Ltd.
Section 80 of the Finance Act, 1994 envisages a complete waiver of penalty once reasonable cause of failure is established and the same cannot be applied to reduce partially minimum penalties prescribed u/s. 76 and 78 of Finance Act, 1994.
HELD:
On following the judgement of Union of India and Others vs. Dharamendra Textile Processors and Others' 2008 (231) ELT 3 (SC), it has been held that penalties imposed under section 76 and section 78 cannot be reduced u/s. 80 of Finance Act, 1994.
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