9911796707
TMI Blog2014 (3) TMI 674X X X X Extracts X X X X X X X X Extracts X X X X ..... ted to the petitioner in respect of the consignment in question subject to the petitioner executing a bond for the entire differential duty and furnishing a bank guarantee of a nationalized bank to the satisfaction of the second respondent for an amount representing 30% of the differential duty. The guarantee shall be furnished to the satisfaction of the second respondent and shall be kept alive pending the disposal of the adjudication proceedings and for a period of 8 weeks thereafter. The goods shall be released within a period of three days of compliance of the above directions. The order for provisional release shall stand modified to the aforesaid extent - Decided partly in favour of assessee. - Writ Tax No. - 63 of 2014 - - - Dated:- ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ermined value of imported goods to the tune of Rs.44,34,686/-; (iv) Cash Security/Bank Guarantee for 20% of the Bond amount. On behalf of the petitioner, it has been submitted that the conditions which have been imposed for provisional release of the goods requiring the petitioner to furnish a bank guarantee well in excess of 100% of the determined value of the goods is unreasonable and at the highest a guarantee for 20% of the differential duty could have been demanded. On the other hand, it has been urged on behalf of the Department that on 21 January 2014 a notice to show cause has been issued to the petitioner and though a personal hearing was fixed on 21 February 2014 the petitioner did not appear, consequent upon which the next ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the petitioner in respect of the consignment in question subject to the petitioner executing a bond for the entire differential duty and furnishing a bank guarantee of a nationalised bank to the satisfaction of the second respondent for an amount representing 30% of the differential duty. The guarantee shall be furnished to the satisfaction of the second respondent and shall be kept alive pending the disposal of the adjudication proceedings and for a period of 8 weeks thereafter. The goods shall be released within a period of three days of compliance of the above directions. The order for provisional release shall stand modified to the aforesaid extent. The petitioner also undertakes to furnish a reply to the notice to show cause within ..... X X X X Extracts X X X X X X X X Extracts X X X X
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