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TMI Blog2015 (9) TMI 637X X X X Extracts X X X X X X X X Extracts X X X X ..... : (per the Hon'ble the Chief Justice Sri Kalyan Jyoti Sengupta) Both the appeals are sought to be preferred and admitted against the common judgment and order of the Customs, Excise and Service Tax Appellate Tribunal, South Zonal Bench, Bangalore, dated 06.05.2014, by which the learned Tribunal has been pleased to set aside the imposition of penalty. These appeals are sought to be preferred on ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ? d. Whether the Hon'ble CESTAT, Bangalore is justified in stating that no need for imposition of penalty under Section 76 of Finance Act, which stipulates imposition of penalties for failure to pay Service tax in time as the assessee did not pay the ST in time knowing very well that the Service tax is payable on the services of Sale of Space & Time and Renting of Immovable Property? e. Whethe ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... nt of penalty altogether. We are unable to agree with the submission of the learned counsel as for a case of this nature, provision of penalty has been provided under Section 76 of Finance Act, 1994 (for short 'the Act'). We think that Section 76 of the Act has to be read with Section 80 of the Act, which is set out here under: "80. Penalty not to be imposed in certain cases Notwithstanding anyt ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ellants are eligible for the benefit of provisions of Section 80 of the Finance Act 1994." Before that, it was also recorded by the learned Tribunal the fact that entire amount of service tax has already been recovered by the Revenue Authorities and that the assessee expressed its willingness to deposit the service tax with interest. Since the entire amount has already been recovered, there is ..... X X X X Extracts X X X X X X X X Extracts X X X X
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