9911796707
TMI Blog2009 (6) TMI 83X X X X Extracts X X X X X X X X Extracts X X X X ..... ervices – held that - Section 80 of the Finance Act, 1994 provides that, “notwithstanding anything contained in the provisions of Section 76, Section 77 or Section 78, no penalty shall be imposable on the assessee for any failure referred to in the said provisions, if the assessee proves that there was reasonable cause for the said failure.” - They have maintained proper records of the transaction ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... proprietorship firm. Shri Pradeep Kumar, Proprietor of the respondent-firm appeared before the Central Excise Officers in response to summon along with Bill Books and Bank Statements and accepted the tax liability, which they deposited along with interest, on 31-7-2006 and 24-4-2007. A show cause notice dated 7-5-2007 was issued to appropriate the amount as deposited by them and to impose penaltie ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... . 3. After hearing the ld. DR and on perusal of the records, I find that Section 80 of the Finance Act, 1994 provides that, "notwithstanding anything contained in the provisions of Section 76, Section 77 or Section 78, no penalty shall be imposable on the assessee for any failure referred to in the said provisions, if the assessee proves that there was reasonable cause for the said failure." In t ..... X X X X Extracts X X X X X X X X Extracts X X X X
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