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TMI Blog2018 (11) TMI 573X X X X Extracts X X X X X X X X Extracts X X X X ..... ons of Section 78 of the Act, are attracted for imposition of penalty on the appellant. However, in case, when the assessee maintains specified records, the proviso appended to Section 78 of the Act, mandates that imposition of penalties should be restricted to 50% of the determined amount of service tax - the quantum of penalty is thus reduced to 50%. Appeal allowed in part. - APPEAL No.S ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... by it. Thereafter, the appellant had deposited the service tax along with interest. The matter was adjudicated against the appellant vide order dated 15/12/2016, wherein service tax demand of ₹ 15,23,858/- was confirmed along with interest. Besides, the adjudication order also imposed penalties under Section 77 78 of the Finance Act, 1994. On appeal, the learned Commissioner (Appeals) vid ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the audit report was issued to the appellant. Since the service tax amount was not deposited by the appellant within the stipulated time and such amount was deposited as a consequence of the objection raised by the audit wing, it is manifest that provisions of Section 78 of the Act, are attracted for imposition of penalty on the appellant. However, on perusal of the audit report dated 17/03/2016, ..... X X X X Extracts X X X X X X X X Extracts X X X X
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