2007 (8) TMI 73

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..... pay Service Tax under the category of Real Estate Agents under the provisions of Sec. 76 of the Finance Act, 1994 for delay of payment of Service Tax for the period October 1998 to June, 2003. The department was of the view that there was no justification for imposing such a low penalty as Section 76 provided for imposition of penalty of Rs. 100/- per day in case of failure to pay tax for every da .....

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..... rom 3 months to 58 months. The Larger Bench of the Tribunal has interpreted Section 76 of the Finance Act, 1994 to mean that the penalty of Rs. 100/- per day can be imposed in case of failure to pay tax for every day after the due date, in the case of ETA Engineering Ltd. v. CCE, Chennai - 2006 (3) S.T.R. 429 (Tri.-LB) = 2004 (174) E.L.T. 19. The enhanced penalty does not exceed Rs. 100/- for ever .....

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