https://www.taxtmi.com/caselaws?id=114796 The case involving settlement of duty liability between M/s. Sholavaram Stud Farm and Chettinad Stud and Agricultural Farm was resolved favorably. The applicants admitted additional duty, waived abatement claims, and received immunities from fines, penalties, interest, and prosecution. Errors in duty calculation and time-barred demands were addressed, with the applicants demonstrating full cooperation and disclosure. The settlement under Section 127C of the Customs Act, 1962, included adjustments in deposits and extended immunities to co-applicants. However, the granted immunities were subject to withdrawal in case of fraud or non-disclosure, emphasizing transparency and honesty in the process. en-us Mon, 23 Aug 2004 00:00:00 +0530 Mon, 21 May 2012 12:16:38 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=114796 The case involving settlement of duty liability between M/s. Sholavaram Stud Farm and Chettinad Stud and Agricultural Farm was resolved favorably. The applicants admitted additional duty, waived abatement claims, and received immunities from fines, penalties, interest, and prosecution. Errors in duty calculation and time-barred demands were addressed, with the applicants demonstrating full cooperation and disclosure. The settlement under Section 127C of the Customs Act, 1962, included adjustments in deposits and extended immunities to co-applicants. However, the granted immunities were subject to withdrawal in case of fraud or non-disclosure, emphasizing transparency and honesty in the process. Case-Laws Customs Mon, 23 Aug 2004 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=114796