2009 (7) TMI 1075

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..... with the condition of pre-deposit of penalty of Rs. 71,307/-, which stands imposed on the appellant in terms of the provisions of Section 76 of Finance Act, 1994, on the ground of non payment of tax for four quarters endings i.e. December 2006, March 2006, June 2007 and September 2007. 2. Learned Chartered Accountant appearing for the appellants submitted that the appellants were working in a re .....

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..... . Inasmuch as, Section 76 provides for mandatory penalty of Rs. 200/- per day, the appellants be directed to deposit the entire quantum of penalty. 4. After considering the submissions made by both the sides, I find that it is not a case of new levy, in which case, the appellant can be said to be not aware of the same. Admittedly the appellant is a registered service tax assessee and knew about .....

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