CESTAT Chennai: Pre-deposit waived, penalties reduced to 25%. Appeal allowed with consequential relief.

The Appellate Tribunal CESTAT, Chennai waived pre-deposit of penalties under Sections 76 and 77 of the Finance Act, 1994. The penalty was reduced to 25% of the service tax amount, leading to the appeal being allowed with consequential relief for the appellants.

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The Appellate Tribunal CESTAT, Chennai waived pre-deposit of penalties under Sections 76 and 77 of the Finance Act, 1994. The penalty was reduced to 25% of the service tax amount, leading to the appeal being allowed with consequential relief for the appellants.

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