2009 (10) TMI 136 - AT - Service Tax

Penalty - In this case, the assessees have obtained a certificate for full and final settlement of tax arrears under Section 96(2) of the Finance Act, 2008 in respect of Dispute Resolution Scheme, 2008. The certificate grants immunity from institution of any proceedings for imposition of penalty, in respect of matters covered in the afore said declaration made by the assessees. In view of the above settlement, the penalty imposed on the appellants is set aside and the appeal is allowed.

Summary

The Appellate Tribunal CESTAT, Chennai allowed the appeal as the assessees obtained a certificate for full and final settlement of tax arrears under Section 96(2) of the Finance Act, 2008, granting immunity from penalty proceedings under the Finance Act, 1994. Penalty imposed on the appellants was set aside.