Supreme Court’s Split verdict on Settlement Commission’s jurisdiction in case of seized goods mentioned under Section 123 of the Customs Act 1962
Supreme Court was called upon to decide whether a settlement remedy under Section 127B of the Customs Act, 1962, would be available for the seized goods, which are specified under Section 123 of the said Act, the bench of Krishna Murari and Sanjay Karol, JJ gave a spilt verdict and referred the matter to a larger bench.