https://www.taxtmi.com/caselaws?id=114812 The Settlement Commission allowed the adjustment of the deposited amount against the admitted duty liability, directing the applicant to pay the balance amount of Rs. 29,593. The applicant was granted immunities from fines, penalties, and prosecution under the Customs Act, 1962, based on full disclosure and cooperation. The duty liability was settled at Rs. 1,18,29,593, with the applicant required to pay simple interest at 10% per annum for financial gain. Compliance and integrity were emphasized in the settlement process to avoid fraud or misrepresentation. en-us Tue, 23 Nov 2004 00:00:00 +0530 Mon, 21 May 2012 13:16:02 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=114812 The Settlement Commission allowed the adjustment of the deposited amount against the admitted duty liability, directing the applicant to pay the balance amount of Rs. 29,593. The applicant was granted immunities from fines, penalties, and prosecution under the Customs Act, 1962, based on full disclosure and cooperation. The duty liability was settled at Rs. 1,18,29,593, with the applicant required to pay simple interest at 10% per annum for financial gain. Compliance and integrity were emphasized in the settlement process to avoid fraud or misrepresentation. Case-Laws Customs Tue, 23 Nov 2004 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=114812