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of <h1>Finance Act 2015 Removes Section 127E from Customs Act; Limits Settlement Commission's Power to Reopen Cases.</h1> Section 127E of the Customs Act, 1962, which empowered the Settlement Commission to reopen completed proceedings for proper case disposal, was omitted by the Finance Act, 2015. Previously, the Commission could reopen proceedings completed before a settlement application under Section 127B, with the applicant's agreement. However, this power was restricted by two provisos: proceedings could not be reopened after five years from the settlement application date, and proceedings could not be reopened for applications made on or after June 1, 2007. These restrictions were introduced by the Finance Act, 2007.
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