2008 (6) TMI 55

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..... t - held that commissioner is justified in setting aside the penalty by relying upon the Tribunal’s decision but, he is not justified in waiving interest as there is no any provision for such waiver - assessee has to discharge the interest liability - ST/203/2007 - 695/2008 - Dated:- 9-6-2008 - Shri T.K. Jayaraman, Member (T) Shri K. Sambi Reddy, JDR, for the Appellant. None, for the R .....

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..... on't want to interfere with the setting aside of penalties by the Commissioner (Appeals). However, this Bench recently in similar cases has upheld the demand of interest for the simple reason that Section 73(3) of the Finance Act, 1994 contemplates a situation where both service tax and interest are paid after the lapses are pointed out. It is felt that it would not be proper to waive the interest .....

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