2014 (12) TMI 874 - AT - Service Tax

Waiver of pre-deposit of penalties u/s 77(2) - Held that - during the relevant period there was no provision under the Finance Act 1994 to impose personal penalties on the directors of the company and the said provisions came into force with effect from 10.05.2013 therefore personal penalty is not imposable - Following decision of Diwan Rahul Nanda 2012 (7) TMI 470 - CESTAT MUMBAI - Stay granted.

Summary

The Appellate Tribunal CESTAT MUMBAI granted waiver of pre-deposit of penalties imposed under Section 77(2) of the Finance Act, 1994 to the applicants based on the decision of Diwan Rahul Nanda 2013 (29) STR 544. Recovery of penalties stayed during the appeal process.