https://www.taxtmi.com/caselaws?id=126547 Admitted undervaluation and disclosure of differential customs duty justified settlement under the Customs Act, with the duty liability accepted on payment of duty and interest. The Commission allowed adjustment of a Rs. 10 lakh deposit made in the name of a related firm, treating the entities as family-linked. However, because the undervaluation was found to be prolonged and organised, complete immunity from penalty was denied: the main applicant was required to pay a limited penalty, while co-applicants received penalty immunity. Immunity from prosecution was granted subject to timely payment of the penalty within 30 days. en-us Wed, 22 Jul 2009 00:00:00 +0530 Thu, 22 Nov 2012 10:25:59 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=126547 Admitted undervaluation and disclosure of differential customs duty justified settlement under the Customs Act, with the duty liability accepted on payment of duty and interest. The Commission allowed adjustment of a Rs. 10 lakh deposit made in the name of a related firm, treating the entities as family-linked. However, because the undervaluation was found to be prolonged and organised, complete immunity from penalty was denied: the main applicant was required to pay a limited penalty, while co-applicants received penalty immunity. Immunity from prosecution was granted subject to timely payment of the penalty within 30 days. Case-Laws Customs Wed, 22 Jul 2009 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=126547