9911796707
TMI Blog2012 (2) TMI 146X X X X Extracts X X X X X X X X Extracts X X X X ..... eld that:- In view of decision in case of Miles India Ltd. Vs ACC (1984 - TMI - 41925 - Supreme Court Of India) holding that the authorities created by a statute are governed by the provisions of statute, it is laid down that in as much as there is no provision regarding payment of interest in respect of sale proceeds of confiscated goods, the same cannot be ordered. Since Commissioner has not g ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... dered absolute confiscation of the gold bars and imposed penalty of Rs.50,000/- on them. 3. The said order was challenged before the Tribunal along with stay petition which was disposed of vide stay order dtd. 7.08.98 directing the appellants to deposit an amount of Rs.50,000/-. The same was deposited by the appellants. Subsequently vide final order dtd. 18.10.99, the impugned order for confis ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... deposit, subsequently refunded to the appellant and on the amount of sale proceeds of the confiscated goods subsequently given to the appellants. 7. As regards, the interest on the refund of sale proceeds of confiscated goods are concerned, the Commissioner has observed that the issue stands covered by the Tribunal s decision in the case of Overseas Trading Corporation reported in 2006(195)ELT ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... h it is the ld. SDR s contention that refund of pre-deposit was applied on 20.08.2005 and the same refunded on 26.09.2005 but we find that Commissioner has not given any finding on the same and has rejected the appeal only on the point of interest on refund of sale proceeds. In as much there is no finding by Commissioner(Appeals) on the above point, we find it deem fit to remand the matter to the ..... X X X X Extracts X X X X X X X X Extracts X X X X
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