https://www.taxtmi.com/caselaws?id=121986 The Settlement Commission granted immunities from penalty and prosecution to a company under an EPCG licence for failing to fulfill the export obligation despite admitting the duty foregone. The applicant's request for a reduction in interest rate on additional Customs duty was denied, with the Commission maintaining its stance on granting immunity in excess of 10% simple interest. The immunities were provided based on the applicant's full disclosure of duty liability and cooperation, subject to conditions outlined in the Customs Act, with a caution of withdrawal in case of false evidence or material particulars. en-us Fri, 20 Jun 2003 00:00:00 +0530 Tue, 07 Aug 2012 17:22:55 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=121986 The Settlement Commission granted immunities from penalty and prosecution to a company under an EPCG licence for failing to fulfill the export obligation despite admitting the duty foregone. The applicant's request for a reduction in interest rate on additional Customs duty was denied, with the Commission maintaining its stance on granting immunity in excess of 10% simple interest. The immunities were provided based on the applicant's full disclosure of duty liability and cooperation, subject to conditions outlined in the Customs Act, with a caution of withdrawal in case of false evidence or material particulars. Case-Laws Customs Fri, 20 Jun 2003 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=121986