https://www.taxtmi.com/caselaws?id=47177 The HC upheld the jurisdiction of the Settlement Commission under the Customs Act, 1962, affirming its authority to entertain applications and waive interest. However, it ruled that the Commission cannot waive contractual interest without mutual consent, directing the importer to pay a 15% interest rate. The Court set aside the Commission's directions on DEEC Book entries and advance licenses, as they pertain to different legislation. Both writ petitions were disposed of without costs. en-us Mon, 23 Aug 2004 00:00:00 +0530 Mon, 10 Jun 2024 12:04:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=47177 The HC upheld the jurisdiction of the Settlement Commission under the Customs Act, 1962, affirming its authority to entertain applications and waive interest. However, it ruled that the Commission cannot waive contractual interest without mutual consent, directing the importer to pay a 15% interest rate. The Court set aside the Commission's directions on DEEC Book entries and advance licenses, as they pertain to different legislation. Both writ petitions were disposed of without costs. Case-Laws Central Excise Mon, 23 Aug 2004 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=47177