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TMI Blog2007 (4) TMI 567X X X X Extracts X X X X X X X X Extracts X X X X ..... i, Ashok Bhanushali, Kishorbhai Bhanushali, Kamlesh Shah (hereinafter referred to as the co-applicants) in respect of the proceedings initiated vide Show Cause Notice No. DRI/JRU/INV-03/05 dated 10-2-2006 issued by ADG, DRI, Ahmedabad. 2. The applications were admitted vide Admission Order No. A-526/CUS/06-SC(PB) dated 22-12-2006, which directed the main applicant to deposit the admitted duty liability of Rs. 15,71,155/- within 30 days of the receipt of the said order. Brief facts of the case are already mentioned in the Admission Order. The main applicant has reported that the said duty amount was deposited on 20-3-2007. 3. The matter came up for final hearing on 5-4-2007, when Shri Prabhat Kumar, Advocate appearing for the applicants ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ported by the main applicant. Para 71 of the SCN shows that the statement dated 5-10-2005 of Shri Premjibhai Bhanushali gave the break-up of the cash as accruing at Delhi and the transactions mentioned by him were supported by documents. He referred to Pages 99/114, 101, 102, 103, 105, 132 of Vol-I of the Paper Book and submitted that they proved that the transactions as mentioned in the statement of Shri Premjibhai were on legal documents on stamp papers of prescribed value, inter alia, including registered deeds. The said transactions with cash flow were duly entered in Cash book at the premises at Delhi, which was not seen by the Investigating officer. Further the onus to prove that the said cash amounts seized at Delhi were actually sal ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ith records and the submissions of the two sides. It is observed that though the main applicant has not accepted the allegations of clandestine removal, they have admitted and paid the entire duty liability because there being no hope of the revival of their unit, they can not fulfil the export obligations. They have made full and true disclosure of their duty liability and have also cooperated with the settlement proceedings. The Bench further finds that there is no tangible evidence to establish that the Indian currency of a total amount of Rs. 54 lacs seized from business and residential premises of Shri Kishorbhai Bhanushali was the sale proceeds of the impugned goods. As held by the Tribunal in 1988 (33) E.L.T. 444 (Tribunal) in the ca ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... no further duty remains payable. (b) The Bench allows immunity from interest under the provisions of Customs Act, 1962 in excess of 10% simple interest per annum from the date the duty was due till the actual date of payment of duty. Revenue shall calculate and intimate the amount of interest to the main applicant within 15 days of the receipt of this order. There-after the main applicant shall pay interest within 15 days of the receipt of such intimation and report compliance both to the Bench and to Revenue. (c) As discussed above for want of evidence, the seized currency of Rs. 5,50,000/- and of Rs. 48,50,000/- (total Rs. 54,00,000/-) is held not liable to confiscation and is accordingly released to M/s. Poonam Enterprises a ..... X X X X Extracts X X X X X X X X Extracts X X X X
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