2008 (9) TMI 104

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..... to warrant invoking of section 80 to reduce the penalty - appeal by assessee is dismissed. - S/151 of 2006/MAS - 980 of 2008 - Dated:- 8-9-2008 - P. KARTHIKEYAN, TECHNICAL MEMBER ORDER 1. In the instant case, appellants challenge the penalty of Rs. 90,000 imposed on them under section 76 of the Finance Act, 1994 ('the Act'). During the period 1/2003 to 9/2003, the appellants did not .....

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..... or at the rate of two per cent of such tax, per month, whichever is higher, starting with the first day after the due date till the date of actual payment of the outstanding amount of service tax: Provided that the total amount of the penalty payable in terms of this section shall not exceed the service tax payable." It is admitted by both sides that in a case where service tax and interest .....

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