2009 (10) TMI 214 - AT - Service Tax

Penalty u/s 76 and 78- simultaneously- In the light of the various decisions held that- section 76 and 78 mutually exclusive. Set aside the penalty u/s 76 and allow the appeal.

Summary

The Appellate Tribunal CESTAT, Chennai overturned a penalty imposed under section 76 of the Finance Act, 1994 in an appeal. Previous decisions established that sections 76 and 78 are mutually exclusive, leading to the penalty under section 76 being set aside. The appeal was allowed.