2018 (11) TMI 423 – GUJARAT HIGH COURT – 2018 (18) G. S. T. L. 216 (Guj.) – Penalty u/s 78 – Held that:- Considering Section 78 of the Finance Act, 1994, only in a case where any tax has not been levied or paid or short levied or short paid or erroneously refund in short or short paid or erroneously refunded by reason of (a) fraud or (b) collusion or (c) wilful mis-statement or (d) suppression of facts or (e) contravention of this Chapter, the penalty is leviable.
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It is not in dispute that in the balance sheet published in June 2013, the respondent Company has shown the liability of the service tax payable by them and infact, the same was paid in January 2014 alongwith interest. It is not in dispute that thereafter after approximatel
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n 78 of the Finance Act, 1994, the Revenue has preferred the present Appeal. 2. We have heard learned Advocate appearing on behalf of the appellant Mr. Nirzar S. Desai. We have also considered and gone through the relevant material on record and the impugned order/s passed by the Tribunal. 3. It is required to be noted and it is not in dispute that in the balance sheet published in June 2013, the respondent Company has shown the liability of the service tax payable by them and infact, the same was paid in January 2014 alongwith interest. It is not in dispute that thereafter after approximately of a period of one year, the proceedings for penalty were initiated. Considering Section 78 of the Finance Act, 1994, only in a case where any tax ha
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