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Challenge to final order passed by High Court dismissing writ petition by Revenue against Settlement Commission's order on valuation of imported goods. Analysis: The Supreme Court heard the appeal challenging the High Court's order dated 12th January, 2006, which dismissed the writ petition filed by the Revenue against the Settlement Commission's decision on the valuation of imported goods by the respondent. The High Court, in its order, noted that the respondent had already deposited the differential amount of customs duty even before the Settlement Commission's decision. Considering this, the High Court chose not to delve into the merits of the Settlement Commission's order. The Supreme Court, after considering the purpose and powers of the Settlement Commission, agreed with the High Court's decision, stating that the High Court's view was justified. The Supreme Court highlighted an order from 24th April, 2007, which stayed the refund of the excess amount paid by the respondent, subject to a condition that the Union of India file an undertaking to pay interest at the rate of 6% per annum if the petition was dismissed on merits. However, the Revenue failed to comply with this condition by not furnishing the required undertaking. Consequently, there was no stay on the refund of the excess amount, and the direction regarding the payment of interest at the rate of 6% per annum lost its effectiveness. As a result, the Supreme Court dismissed the appeal with no order as to costs.
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