1999 (2) TMI 1

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..... o. 110/STC/97, dated 26-11-1997 passed by the Assistant Commissioner, Central Excise Div.-I, Kanpur-I imposing a penalty of Rs. 9,000/- under Section 77 of the Finance Act, 1994 and also imposed a penalty of Rs. 865/- under Section 76 of said Act for delay in depositing the service tax. 2. Brief facts of the case are that the appellants is a registered as stock broker of Kanpur and he was re .....

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..... datory on the part of Central Excise officer to issue notice under sub- section (2) of Section 70 latest by 31-3-1995 for return of quarter ending Sept., 1994 and the assessee could have submitted the return by 30 April, 1995 but in the instant case the appellants have already submitted the return in question and thus the penalty imposed under Section 77 is not justified and liable to be set aside .....

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..... 95 and the service tax for October, November and Dec., 1994 was deposited on 10-1-1995, 11-1-1995 and 12-1-1995 respectively along with the interest as provided under Section 75 even without collecting from the clients. The sub-section (3) of Section 68 says that the service tax can be deposited after 75 days from the date of service if the same has not been collected. This Section favour the a .....

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