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TMI Blog2007 (10) TMI 29X X X X Extracts X X X X X X X X Extracts X X X X ..... 7-SM(BR) - 1578/2007-SM(BR)(PB) - Dated:- 4-10-2007 - [Order per] - As per the facts on record, the appellants is engaged in arranging finance/loans for its customers from various banks and financial institutions, for which purposes he gets the commission from the banks and institutions. His factory premises was visited by the officers on 10-3-2005 and it was observed that the appellant was cov ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... proposing imposition of penalties under Section 75A, 76 and 78 of the Finance Act 1994. Vide his impugned order Commissioner imposed penalty of Rs. 500/- under Section 75A, of Rs. 100/-per day under Sec lion 76 and of Rs. 1,15,173/- under Section 78 of the Finance Act, 1994. The said order is impugned before Tribunal. 3. After hearing both the sides, represented by Shri Atul Gupta ld. CA and ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... on the part of the appellant not to pay the same. The appellant had deposited the tax along with interest amount, as soon as it was pointed out by the Revenue. As such, I am of the view that the provisions Section 80 get attracted and the Assistant Commissioner has rightly exercised the discretion vested in him in terms of the said Section. Accordingly, the impugned order of the Commissioner is se ..... X X X X Extracts X X X X X X X X Extracts X X X X
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