2008 (1) TMI 224 - AT - Service Tax

Assessee contended that the imposition of penalty under Section 76 has been stayed by a Bench of this Tribunal when main demand and penalty having been stayed, the enhancement of penalty under Section 78 in exercise of suo motu revisional power should also be stayed - the amount of pre-deposit of penalty is waived stay granted

Summary

The Appellate Tribunal CESTAT, New Delhi, in the case citation 2008 (1) TMI 224, stayed the imposition of penalty of Rs. 24,18,925/- under Section 78 of the Finance Act by the Commissioner of Central Excise. The Tribunal waived the pre-deposit of penalty until the appeal is disposed of and tagged the appeal with Service Tax Appeal No. 43 of 2007 for final hearing.