No Penalty for Assessee: Genuine Legal Interpretation Dispute Under Finance Act, 1994 Sections 77(2) & 78 Leads to Relief.

Penalty u/s 77(2) & 78 of the Finance Act, 1994 - The issue is a bonafide dispute of legal interpretation of the newly introduced provision coupled with transaction concerning availment of such services has been reflected in ST-I monthly return, no malafide can be attributed to the assessee to call for imposition of penalty of any kind - penalty set aside. .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X