2015 (1) TMI 574

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..... d that the petitioner could approach the jurisdictional commissioner for release of the said amount against any surety and bank guarantee. - petitioner may file an application under the said provisions for provisional release of the seized amount and the concerned authority shall pass an appropriate order thereon in accordance with law. If such an application is made by the petitioner within a wee .....

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..... ion 32E of the Central Excise Act, 1944. The application was not proceeded further on account of the fact that the petitioner has not cleared the amount of admitted duty and interest. The admitted duty is to the extent of ₹ 70,57,806/- and the interest component is to be computed thereon as per law by the concerned department. The petitioner states that it is willing to deposit admitted duty .....

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..... and the settlement case can be proceeded accordingly. 9. The Bench has carefully considered the records of the case and submissions made by the applicant. The Bench observes that the SCN C. No. IV(Hqrs. Prev.)/15/11/2011/3244 dated 29-11-2011 specifically charges that the seized amounts of ₹ 14,11,380/- and ₹ 1,35,42,900/- are sales proceeds of clandestinely cleared excisable good a .....

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..... petitioner deposits the admitted amount of duty and interest and for which purpose it was suggested that the petitioner could approach the jurisdictional commissioner for release of the said amount against any surety and bank guarantee. 4. While rejecting the said application, permission was, however, granted to the petitioner to file a fresh application after deposit of the admitted duty liab .....

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..... of the seized amount and the concerned authority shall pass an appropriate order thereon in accordance with law. If such an application is made by the petitioner within a week from today the same shall be disposed of by the concerned authority within two weeks thereafter. 7. We are making it clear that we have not expressed any opinion on the merits of the matter. We also make it clear that we .....

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