2007 (12) TMI 145 - AT - Service Tax

Application for waiver of pre-deposit of penalty under Section 76 - Commissioner of Central Excise by the impugned order revised the adjudication order and imposed penalty under Section 76 - Commissioner (Appeals) held that tax is not leviable during the material period and therefore pre-deposit of penalty under Section 76 of the Act on the basis of the revised order of the Commissioner of Central Excise is waived - stay application is allowed

Summary

The applicant filed for waiver of pre-deposit of penalty under Section 76 of the Finance Act, 1994. The Commissioner of Central Excise imposed penalty under Section 76, which was not permissible under the law. The Commissioner (Appeals) held that tax is not leviable during the material period, so the pre-deposit of penalty under Section 76 is waived till the appeal is disposed of. The stay application is allowed.