2004 (10) TMI 5 - AT - Service Tax

Service Tax Interest for delayed payment BFIR declared that sick industry is no ground for easygoingness in demand for interest

Summary

The Appellate Tribunal CESTAT (CHENNAI) upheld demands of interest on service tax amounts of Rs. 41,917/- and Rs 20,400/- for specific periods under Section 75 of the Finance Act, 1994. The appellants' plea for leniency due to being declared sick by BIFR was rejected as Section 75 provisions are mandatory, leaving no scope for leniency. The appeals were rejected.