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TMI Blog2019 (12) TMI 857X X X X Extracts X X X X X X X X Extracts X X X X ..... of the respondent Assessee - HELD THAT:- The fact that the Assessee paid the service tax along with the interest in question, soon upon getting information from the Department, as noted by the Tribunal, setting aside of the penalty on the ground of delay in depositing the penalty was justified and therefore, the learned Tribunal has not erred in setting aside such penalty imposed upon the Assessee ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... mposed is under Section 76 of the Finance Act, 1994. 7.1. The Ld.Counsel for appellant has submitted that their failure to make the payment was because the appellant was under much financial crisis during the disputed period. Even in the reply to the Show Cause Notice, they have stated that the delay / default was due to severe financial crisis. That they have given priority to the day-to-day ex ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... turns after 2005-06. The company was going through much financial hardship and it took some time for them to recover and for that reason, the service tax liability got accumulated. Nothing is brought out from evidence that there was any positive act of suppression with an intention to evade payment of service tax. Other than the delay caused due to financial crisis, we do not find any material to ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ith interest, but the delay in payment of the said service tax occurred on account of financial crisis of the respondent Assessee, which has been discussed by the learned Tribunal as the reasons for setting aside the penalty in question. 4. Learned counsel for the Revenue however submitted that the Assessee collected the service tax from its customers and did not pay it in time and therefore the ..... X X X X Extracts X X X X X X X X Extracts X X X X
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