https://www.taxtmi.com/caselaws?id=101546 The Settlement Commission admitted the applications filed by partnership firms for settlement of customs duty liability. The applicants accepted the additional duty liability and misdeclaration of goods' value as demanded by the Revenue. The Commission allowed the applications to proceed under the Customs Act, directing the applicants to deposit the duty amount within 30 days. The Commission upheld the adjustment of a bank guarantee against the admitted duty liability. The consideration of penalties for misdeclaration of goods' value was deferred to the final disposal stage, allowing both parties to submit further information for final adjudication. en-us Wed, 13 Mar 2002 00:00:00 +0530 Fri, 10 Feb 2012 11:44:20 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=101546 The Settlement Commission admitted the applications filed by partnership firms for settlement of customs duty liability. The applicants accepted the additional duty liability and misdeclaration of goods' value as demanded by the Revenue. The Commission allowed the applications to proceed under the Customs Act, directing the applicants to deposit the duty amount within 30 days. The Commission upheld the adjustment of a bank guarantee against the admitted duty liability. The consideration of penalties for misdeclaration of goods' value was deferred to the final disposal stage, allowing both parties to submit further information for final adjudication. Case-Laws Customs Wed, 13 Mar 2002 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=101546