1998 (12) TMI 1 - AT - Service Tax

Service Tax Stock Broker Assessee contented that he being new assessee and unaware of provision regarding to taxable service Stay/Dispensation of pre-deposit service tax

Summary

The Appellate Tribunal CEGAT, New Delhi reviewed a case involving a penalty of Rs. 20,070 imposed on a Stockbroker for failure to pay Service Tax and submit returns on time. The Stockbroker argued that due to confusion over new tax provisions, there was a delay in compliance. The Tribunal found merit in the Stockbroker's case, waived the pre-deposit requirement, and stayed the penalty recovery pending appeal.