2002 (7) TMI 1

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..... both sides for some time on the stay application, I found that it was possible to hear the appeal itself therefore after waiving the pre-deposit of penalty of Rs. 92,400/- imposed for contravention of Section 76 and Section 77 of the Finance Act, 1994 for late payment of tax as well as for late filing of Service Tax Returns, I proceed to hear the appeal itself with the consent of both sides. 2 .....

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..... ld. DR. The Commissioner (Appeals) has accepted that there is no speaking order by the Assistant Commissioner for imposition of penalty under Section 76 therefore he should have set aside the penalty imposed under this section and should not have upheld it on the ground that the negligence on the part of the Assistant Commissioner in giving reasons for imposing penalty under Section 76 of the Act .....

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