9911796707
TMI Blog1985 (1) TMI 320X X X X Extracts X X X X X X X X Extracts X X X X ..... in the circumstances stated therein, the Tribunal will be pleased to set aside the order of the Central Board of Excise and Customs, dated 11-9-1981 in No. 586 of 1981. 2. This appeal coming up for orders upon perusing the records and upon hearing the arguments of Shri K, Srinivasan, Advocate for the appellant and upon hearing the arguments of Shri V. Ramachandran, Sr. Departmental Representati ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ontention of the Bank was not accepted by the Collector. The Bank went in appeal to the Central Board of Excise and Customs. After taking note some case laws cited before it, the Board held that the plea that the vessel would not be liable to confiscation under Sec. 115 of the Act is not maintainable. Eventually the Board rejected the appeal of the Bank. The Bank filed a revision application befor ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Bank of Bihar of the amount which was secured by the pledge of the goods to it. As the act of the Government resulted in deprivation of the amount to which the Bank of Bihar was entitled it would be bound to reimburse the Bank for such amount which the Bank in ordinary course would have realised by sale of the goods pledged with it on the pawn or making a default in payment of debt. The learned Co ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e to Government is to realise the amount as if it were an arrear of land revenue, a procedure in which goods or property could be seized and sold in satisfaction of sums due to Government. We would consider that the case dealt with by the Supreme Court would be relevant to a proceeding under Sec. 142 of the Act rather than one under Sec. 126 wherein the vesting of confiscated goods in Government, ..... X X X X Extracts X X X X X X X X Extracts X X X X
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