2007 (6) TMI 118

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..... rected against imposition of penalty of Rs. 48,800/- on the appellant under Section 76 of the Finance Act, 1994. 3. The facts leading to the imposition of penalty are that the appellant render financial services which attract service tax. The tax amount is required to be paid on a monthly basis and returns filed on half-yearly basis. The appellant was complying with this procedure. 4. A show cau .....

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..... ecision of this Tribunal in the case of Ram Krishna Travels Pvt. Ltd. v. CCE. Vadodara as reported in 2007 (6) S.T.R. 37 (Tri. - Mumbai). 6. It is seen that Section 76 is in regard to failure to pay tax. In the present case, there was no failure as such, but there was short payment of tax for a bona fide reason. The short payment was also clear from the return filed by the appellant. No penalty i .....

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