69. Settlement of dispute and issue of Certificate of Settlement.

(1) On receipt of an application, the Tax Settlement Board shall cause a copy thereof to be forwarded to the assessing authority or officer concerned and to call upon to furnish the relevant records along with comments.

(2) The Tax Settlement Board shall have the powers to stay the recovery of the demand for a period not exceeding sixty days from the date of stay order.

(3) The Tax Settlement Board after verifying the facts of the case and the record, shall issue a notice, to the applicant to appear before it and shall also afford opportunity of being heard to the officer against whose order the dealer or person has moved the application for settlement.

(4) The Tax Settlement Board shall adopt summary procedure for the disposal of the cases and shall determine its own procedures for expeditious disposal of the applications.

(5) Legal Practitioners, Chartered Accountants or the Tax Practitioners shall not be allowed to appear in any proceedings before the Tax Settlement Board.

(6) The Tax Settlement Board shall, after giving an opportunity of being heard to the applicant, the concerned officer whose order has given rise to the disputed demand and examination of records, within ninety days from the date of filing of the application shall determine, by an order in writing, an amount to be deposited by the applicant in lieu of the arrears of tax, penalty and interest in dispute for settlement.

(7) The Tax Settlement Board, having passed an order under sub-rule (6) shall send a copy thereof to the applicant, the assessing authority or the officer concerned and the Commissioner, Commercial Taxes.

(8) The decision of the Tax Settlement Board shall be unanimous.

(9) The applicant shall submit before the Tax Settlement Board the proof of deposit of the amount determined in lieu of arrears of tax, penalty and interest along with the copy of the order of withdrawal of the case, if any, within thirty days from receipt of such order. However the Tax Settlement Board may for reasons to be recorded in writing, extend the time period for submission of proof of deposit of the amount determined for a further period of thirty days. However, where the applicant has moved an application for withdrawal of case but no order has been passed by the competent court, the Settlement Board may for reasons to be recorded in writing, extend the time period for submission of order of withdrawal of the case by a period as it may deem fit.

(10) After receipt of the proof of deposit of the amount determined under sub-rule (6) and the order of withdrawal of the case, if any, the Tax Settlement Board shall issue a Certificate of Settlement of Arrears of tax, penalty and interest in dispute.

(11) The Certificate of Settlement shall be binding on both the parties.