https://www.taxtmi.com/caselaws?id=122739 Settlement machinery can be invoked where the statutory conditions are met, allowing the Commission to admit the case and determine the duty liability on the basis of the admitted facts. Here, misdeclaration in value was acknowledged, the revised duty position was accepted, and the deposit already made was directed to be adjusted against the final liability. The Commission granted consequential relief by waiving interest beyond the stated level, relieving the applicant from penalty and prosecution, and imposing only a token redemption fine in lieu of confiscation. Release of the goods and related securities was directed upon compliance with the settled terms. en-us Mon, 13 Aug 2007 00:00:00 +0530 Thu, 16 Aug 2012 18:15:47 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=122739 Settlement machinery can be invoked where the statutory conditions are met, allowing the Commission to admit the case and determine the duty liability on the basis of the admitted facts. Here, misdeclaration in value was acknowledged, the revised duty position was accepted, and the deposit already made was directed to be adjusted against the final liability. The Commission granted consequential relief by waiving interest beyond the stated level, relieving the applicant from penalty and prosecution, and imposing only a token redemption fine in lieu of confiscation. Release of the goods and related securities was directed upon compliance with the settled terms. Case-Laws Customs Mon, 13 Aug 2007 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=122739