TaxTMI 
TaxTMI 
2021 (7) TMI 230
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....) of Central Excise Act, 1944 (hereinafter referred to as 'the 1944 Act') made applicable to Service Tax vide Section 83 of the Finance Act, 1994. 2.The petitioner is engaged in the business of textiles, jewellery, household articles in Chennai for decades. The petitioner's father, late V.Saravana Selvaratnam, is a well known businessman in Chennai, especially in T.Nagar area. The petitioner took over his family business and the commercial properties. The petitioner states that the business concerns are duly registered with VAT authorities for the trading business and is periodically filing returns and remitting taxes. In respect of Service Tax collected from the tenants, the same has been remitted with the department and petit....
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....ded that the petitioner filed the application before the Settlement Commission, under Section 32E of the 1944 Act, made applicable to Section 83 of Finance Act, 1994 and it was taken up for hearing. The mandatory requirement for submission of application is that the applicant shall provide full and true disclosure of his duty liability, which has not been disclosed before the Central Excise Officer having jurisdiction at the time of assessment. Thus, the settlement can be made under the provisions of the Act, if the assessee come forward with full and true disclosure, including information and materials not provided under the jurisdictional officer at the time of assessment. In the present case, the application submitted by the assessee was....
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....inally granted partial immunity from penalty to the applicant and further, granted immunity from prosecution and the order was passed. As far as the Service Tax and interest is concerned, the finding of the Settlement Commission in para 5.3 is relevant, which is extracted hereunder:- "5.3.As pointed out by Commissioner in the report dated 12.02.2014 further interest of Rs. 29,16,985/- was paid in addition to the interest of Rs. 20,66,124/- paid before the issue of SCN. The payment of interest in full was confirmed on the day of hearing on 23.07.2014. The applicant claimed cum-tax benefit, which was disputed by the Revenue during the hearing as there were no agreements, and the values charged were not shown as inclusive of Service Tax. In....