https://www.taxtmi.com/caselaws?id=95949 The Settlement Commission clarified that the second proviso to Section 127B(1) of the Customs Act does not bar applications solely due to prosecution initiation. It emphasized the need for the applicant to pay admitted duty liability within 30 days and scrutinized the request for adjustment from the sale price of goods. The Commission highlighted that a proprietary firm and its proprietor are considered a single entity in settlement proceedings, eliminating the need for separate applications. Despite ongoing prosecution, the Commission allowed the application to proceed, aligning with legal interpretations on settlement and prosecution interactions. en-us Mon, 19 Feb 2001 00:00:00 +0530 Fri, 16 Dec 2011 12:12:52 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=95949 The Settlement Commission clarified that the second proviso to Section 127B(1) of the Customs Act does not bar applications solely due to prosecution initiation. It emphasized the need for the applicant to pay admitted duty liability within 30 days and scrutinized the request for adjustment from the sale price of goods. The Commission highlighted that a proprietary firm and its proprietor are considered a single entity in settlement proceedings, eliminating the need for separate applications. Despite ongoing prosecution, the Commission allowed the application to proceed, aligning with legal interpretations on settlement and prosecution interactions. Case-Laws Customs Mon, 19 Feb 2001 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=95949