Levy of penalty u/s 78 of the Finance Act, 1994 - No independent reasons have been given by the first...

Levy of penalty u/s 78 of the Finance Act, 1994 - No independent reasons have been given by the first appellate authority to confirm the penalty under Section 78 of the Act. When the matter went before the Tribunal, no attempt has been made to examine the facts of the case and the Tribunal also was of the view that the assessee had separately collected the service tax and not remitted to the Department, but filed Nil return. This being contrary to facts, both the authorities and the Tribunal committed error in levying/confirming the penalty under Section 78 of the Act. - HC .....

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