9911796707
|
Home
Issues involved: Application for interim stay and waiver of pre-deposit of penalty u/s 76 of the Finance Act, 1994.
Summary: The applicant sought interim stay and waiver of pre-deposit of penalty of Rs. 1,35,100 imposed under Section 76 of the Finance Act, 1994. The adjudicating authority did not impose any penalty under Section 76 for failure to collect or pay Service tax. The assessee appealed against the order of the adjudicating authority to the extent it went against the assessee. However, Revenue did not prefer any appeal against the order of the adjudicating authority under Section 85. The Commissioner, in exercise of its revisional jurisdiction under Section 84 against the order made by the adjudicating authority, took up the matter of non-imposition of penalty under Section 76 and made the impugned order imposing penalty under Section 76. The order was made after the disposal of the appeal by the Commissioner (Appeals). It appears that for imposition of penalty under Section 76, no mens rea is required and mere failure to pay tax was sufficient to attract the said provisions. Having regard to the facts and circumstances of the case, it was directed that on the appellant depositing Rs. 20,000 within six weeks, there shall be waiver of pre-deposit of the remaining amount of penalty under the impugned order of the Commissioner made on 23-11-06. The application was disposed of accordingly, and the matter was posted for compliance report on 12-6-07.
|
