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2010 (10) TMI 726 - HC - CustomsProvision u/s 127B - Import of watch and jewellery - Goods in question were affected by the deluge that took place in Mumbai on 26-7-2005 and the entire baggage was affected by floods and the watches and jewellery had also become wet on account of water seeping through baggage - Therefore, Respondents had pleaded that the applications to be proceeded with under Section 127C(1) of the said Act - The Settlement Commission in the said facts and circumstances, settled the case under Section 127C(1) of the said Act by directing payment of duty with simple interest at 10% p.a. and fine in lieu of confiscation - Held that:-considering the fact that there would be no impact on the duty recoverable from the Respondents in respect of the goods in question merely because exercise of jurisdiction by the Settlement Commission can be said to be debatable, it is not necessary for us to go into the said aspect and reach a conclusion that the order of the Settlement Commission is required to be set aside and the matter is required to be relegated back to the authorities for being dealt with in accordance with law.
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