9911796707
TMI Blog2010 (6) TMI 223X X X X Extracts X X X X X X X X Extracts X X X X ..... cating Authority, by confiscating the short found goods, on the ground that in the absence of physical availability of the goods, these could not be confiscated and redemption fine could not be imposed. Held that- bond entered by 100% EOU at time of import not to be equated to bond for provisional release of seized goods in wich case redemption fine imposable even if goods were provisionally relea ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ial) was found which they had cleared (for Rs. 19,42,416/- @ Rs. 47/- per Kg.) during the previous three or four months without payment of duty and without issue of invoices to different parties in piecemeal whose names were not known to him, as transactions were on cash basis and payment was also received by him. On being further asked, he stated that he did not remember Tempo numbers by which ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ity, by confiscating the short found goods, on the ground that in the absence of physical availability of the goods, these could not be confiscated and redemption fine could not be imposed. For the above proposition, he has relied upon the Larger Bench decision of the Tribunal in the case of Shiv Kripa Is pat Private Limited v. Commissioner of Central Excise Cus. Nasik - 2009 (235) E.L.T. 623 (T ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... d that the 100% EOU bond is required to be executed by 100% EOUs for due compliance with the provisions of Customs Act, Central Excise Act and Rules. However, such a bond cannot be equated to a Bond for provisional release of seized goods. Accordingly, I find that in terms of the ratio of the above mentioned decision of the Larger Bench and considering that the said goods were not physically avail ..... X X X X Extracts X X X X X X X X Extracts X X X X
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