https://www.taxtmi.com/caselaws?id=121639 The settlement application in a case involving duty evasion through misdeclaration and undervaluation of an imported car was allowed by the court. The main applicant admitted to the evasion, leading to the settlement of duty liability at Rs. 8,44,291/-, imposition of a fine of Rs. 2,80,000/- in place of car confiscation, and a penalty of Rs. 50,000/-. The car was to be released to the applicant upon payment, with safeguards in place to protect revenue interests. Co-noticees were not absolved of potential actions, and settlement terms required truthful disclosures to maintain immunities granted under the Customs Act. en-us Fri, 05 May 2006 00:00:00 +0530 Wed, 01 Aug 2012 12:08:03 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=121639 The settlement application in a case involving duty evasion through misdeclaration and undervaluation of an imported car was allowed by the court. The main applicant admitted to the evasion, leading to the settlement of duty liability at Rs. 8,44,291/-, imposition of a fine of Rs. 2,80,000/- in place of car confiscation, and a penalty of Rs. 50,000/-. The car was to be released to the applicant upon payment, with safeguards in place to protect revenue interests. Co-noticees were not absolved of potential actions, and settlement terms required truthful disclosures to maintain immunities granted under the Customs Act. Case-Laws Customs Fri, 05 May 2006 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=121639