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TMI Blog2012 (5) TMI 349X X X X Extracts X X X X X X X X Extracts X X X X ..... e same with interest and also filed ST-3 returns with late fees. - the request for treatment of the amount received as cum-tax amount is allowed and the assessee is entitled to consequent relief, if any. - penalty under Section 76, 77 and 78 of Finance Act, 1994 cannot be sustained. - ST/398/2010, ST/460/2010 - - - Dated:- 20-4-2012 - Mr. B.S.V. Murthy, J. On Merit: for Assessee. S ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... as issued on 13.10.2008 proposing to confirm the Service Tax demand of Rs.5,48,658/- along with interest and proposing penalties under Sections, 76, 77 78 of Finance Act, 1994. Proceedings culminated into impugned Order-in-Appeal dt.23.06.2010, whereby the demand of Service Tax was reduced to Rs.5,07,858/-, extending the benefit of Notification No.6/200-ST, dt.1.3.2005 and penalties under Sectio ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... es. According to Section 73(3) of Finance Act, 1994, where any service tax has not been levied or paid or has been short-levied or short-paid or erroneously refunded, the person chargeable with the Service Tax, or the person to whom such tax refund has erroneously been made, may pay the amount of such Service Tax, chargeable or erroneously refunded, on the basis of his own ascertainment thereof, o ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ischarges Service Tax liability with interest, no penalty is imposable under Sections 76, 77 78 of faf94. Respectfully following the decisions cited and also keeping in view the provisions of Section 73(3) of Finance Act, 1994, I find that the penalty imposed on the appellant-assessee under Section 76, 77 and 78 of Finance Act, 1994, cannot be sustained and are required to be set aside and accor ..... X X X X Extracts X X X X X X X X Extracts X X X X
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