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December 2014

[2014] 36 STR 199 (Tri.-Ahmd.) Toyota Constructions Pvt. Ltd. vs. Commr. of C. Ex., Daman

By Puloma Dalal, Jayesh Gogri, Mandar Telang Chartered Accountants
Reading Time 1 mins
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Slow-down in realty sector held to be a reasonable cause for invocation of section 80 of the Finance Act, 1994.

Facts:
The Appellants filed service tax returns, however, there was a delay in payment of service tax. The department demanded interest and penalty on the same. An appeal was filed with the contention that since there was a slow-down in realty sector, they were unable to pay service tax in time.

Held:
Having regard to facts of the case, the Tribunal invoked provision of section 80 of the Finance Act, 1994 as there was a reasonable cause for failure in payment of service tax in time and penalty u/s. 76 was waived off.

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