Subscribe to the Bombay Chartered Accountant Journal Subscribe Now!

July 2016

2016 (42) STR 401 (S.C) Commissioner of Service Tax, Mumbai vs. Lark Chemicals P. Ltd.

By Puloma Dalal, Jayesh Gogri, Mandar Telang; Chartered Accountants
Reading Time 1 mins
fiogf49gjkf0d

I. Supreme Court

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.

(Note: section 80 has been omitted with effect from 14/05/2015. The judgment may be relevant to the period prior to deletion of section 80).

Download PDF

You May Also Like

‘Sale’ vis-à-vis exchange/barter

[2016-TIOL-1077-HC-DEL-ST] Suresh Kumar Bansal vs. Union of India & ORS