https://www.taxtmi.com/caselaws?id=393060 The court upheld the Settlement Commission's decision to grant immunity from penalty but directed the petitioner to pay simple interest at 10% on the duty foregone under the Customs Act, 1962. The Commission's exercise of discretion in granting partial waiver of interest was deemed valid, emphasizing the finality of its order and warning of consequences for non-compliance. Despite relying on court decisions, the petitioner was required to pay the interest within a specified period, as interest payable under a bond executed by the importer was held to be mandatory and not subject to waiver by the Settlement Commission. en-us Tue, 25 Feb 2020 00:00:00 +0530 Thu, 05 Mar 2020 12:00:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=393060 The court upheld the Settlement Commission's decision to grant immunity from penalty but directed the petitioner to pay simple interest at 10% on the duty foregone under the Customs Act, 1962. The Commission's exercise of discretion in granting partial waiver of interest was deemed valid, emphasizing the finality of its order and warning of consequences for non-compliance. Despite relying on court decisions, the petitioner was required to pay the interest within a specified period, as interest payable under a bond executed by the importer was held to be mandatory and not subject to waiver by the Settlement Commission. Case-Laws Customs Tue, 25 Feb 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=393060