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TMI Blog2015 (2) TMI 377X X X X Extracts X X X X X X X X Extracts X X X X ..... duty. The respondents have not pointed out any circumstance that may raise an apprehension that the appellant will not discharge liability qua any amount that may be assessed at the time of final adjudication. The petitioner has agreed to furnish a bond/personal guarantee/undertaking to discharge this liability. Consequently, we quash the condition requiring the assessee to furnish a bank guarante ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... oner to furnish a bank guarantee of 25% of the differential assessable value to be determined at the time of provisional duty assessment. Counsel for the petitioner submits that as the petitioner has deposited ₹ 30 lacs and undertakes to deposit the differential duty as calculated by the respondents, the condition demanding a bank guarantee for the release of goods is unnecessary. Counsel ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... bank guarantee as a precondition to the release of goods, apparently to protect the interest of the revenue if any further amount is found due from the petitioner at the time of final adjudication. While considering the desirability of demanding a bank guarantee, a Division Bench held in Kuber Casting (P) Ltd. Vs. Union of India, 2013 (297) E.L.T. 4 (P H) that the demand of a bank guarantee is n ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ity qua any amount that may be assessed at the time of final adjudication. The petitioner has agreed to furnish a bond/personal guarantee/undertaking to discharge this liability. Consequently, we quash the condition requiring the assessee to furnish a bank guarantee and direct the petitioner to pay the differential duty as determined and to furnish a personal bond as well as an undertaking that in ..... X X X X Extracts X X X X X X X X Extracts X X X X
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