2014 (6) TMI 825

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..... M.V. Ravindran; 1. This early hearing application is filed by the Revenue for out of turn hearing of the Stay Petition filed by them against Order-in-Appeal No. DMN-EXCUS-000-APP-34-14-15, dt.05.05.2014. 2. After hearing both sides for some time on the application for out of turn hearing, we find that the issue needs to be resolved in the hands of the Tribunal. Hence, we allow the application f .....

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..... the order of Additional Commissioner (Preventive) Central Excise, Customs & Service Tax, Daman for executing a bond for full value but reduced the bank guarantee to Rs.12,08,625/- from the nationalized bank, on a finding that the raw materials which were imported (most of them) were under advance licence and the finished goods which were produced are manufactured for export. 4. Revenues case is .....

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..... goods. 6. Since we are concerned with only limited issue of provisional release of the goods, we dispose of the Stay Petition and take up the appeal itself for disposal. 7. Both sides vehemently oppose each other on the provisional release of the goods and on the merits of the case. As we are only on the provisional release of the goods, we are not going into the merits of the case and keeping t .....

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..... advance licences. Needless to say that when the goods are procured against advance licences, they are secured by way of bond to the Customs authorities. To that extent, Revenues interest seems to be secured. Even if the raw materials which, according to the Revenue, are unaccounted, the said raw materials having been recorded as stock available with the assessee, can be accounted for, subsequent .....

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..... arantee for the differential amount of approximately Rs.8 lakhs. On such execution of bank guarantee for the balance amount, the Revenue authorities will provisionally release the raw material and the finished goods after being accounted for in records. 10. The appeal is disposed of as indicated herein above. 11. Order by Dasti. (Dictated & Pronounced in Court)
Case laws, Decisions, Judgeme .....

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