2013 (10) TMI 40

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..... nder Sections 76, 77 and 78 of the Finance Act, 1994, if reasonable cause is shown by the appellant. The provision of Section 78 talks of the situations like fraud, wilful misstatement and suppression of facts etc. with intention to evade payment of duty. By virtue of the fact that Section 78 has been mentioned in Section 80 of the Finance Act, 1994, situation even in such a case does not prima fa .....

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..... ay Kansara, advocate appearing on behalf of the appellant argued that in this case, Commissioner (Appeals) has given the benefit of Section 80 of the Finance Act, 1994 and held that appellant has shown the reasonable cause and therefore, penalties imposed under Section 78 were set-aside. It was his case that once the penalties under Section 78 of the Finance Act, 1994 are set-aside then, as per th .....

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..... d. It is observed from the provisions contained in Section 80 that the same talks about waiver of penalty under Sections 76, 77 and 78 of the Finance Act, 1994, if reasonable cause is shown by the appellant. The provision of Section 78 talks of the situations like fraud, wilful misstatement and suppression of facts etc. with intention to evade payment of duty. By virtue of the fact that Section 78 .....

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