https://www.taxtmi.com/caselaws?id=100615 The Settlement Commission allowed M/s. Laser Recycling's case to proceed under Section 127C of the Customs Act, 1962, granting permission for payment in two installments totaling Rs. 12,43,132 for duty liability. The Commission acknowledged discrepancies in duty calculation but approved the settlement, providing immunity from prosecution and penalties upon full duty payment. Provisional release of seized goods was permitted on bond execution, subject to completion of settlement terms. The settlement terms emphasized the importance of truthful disclosure to maintain validity, with provisions for consequences in case of fraud or misrepresentation. en-us Fri, 10 Aug 2001 00:00:00 +0530 Fri, 03 Feb 2012 15:19:39 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=100615 The Settlement Commission allowed M/s. Laser Recycling's case to proceed under Section 127C of the Customs Act, 1962, granting permission for payment in two installments totaling Rs. 12,43,132 for duty liability. The Commission acknowledged discrepancies in duty calculation but approved the settlement, providing immunity from prosecution and penalties upon full duty payment. Provisional release of seized goods was permitted on bond execution, subject to completion of settlement terms. The settlement terms emphasized the importance of truthful disclosure to maintain validity, with provisions for consequences in case of fraud or misrepresentation. Case-Laws Customs Fri, 10 Aug 2001 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=100615