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TMI Blog2016 (3) TMI 781X X X X Extracts X X X X X X X X Extracts X X X X ..... f appellant - Application No. ST/EH/95277/15, Appeal No. ST/87423/15 - A/85676/16/STB - Dated:- 1-2-2016 - M V Ravindran, Member (J) And C J Mathew, Member (T) For the Appellant : Shri Vinay Jain, CA Shri Sujit Kotian, Adv For the Respondent : Shri B Kumar Iyer, Supdt. (AR) ORDER Per M. V. Ravindran When this matter was called out we find that the issue involved in this ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... sel submits that the provisions of Section 78A of the Finance Act, 1994 was brought into statute of Finance Act, 2013 with effect from 10.05.2013 and cannot be invoked for the aberrations of the assessee Company for the earlier period for which tax liability has been confirmed. 5. On perusal of the records we find the provisions of 78A of the Finance Act, 1994 which brought into statute with ef ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... then any director, manager, secretary or other officer of such company, who at the time of such contravention was in charge of, and was responsible to, the company for the conduct of business of such company and was knowingly concerned with such contravention, shall be liable to a penalty which may extend to one lakh rupees. In our view, this Section cannot be invoked by the Revenue for ..... X X X X Extracts X X X X X X X X Extracts X X X X
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