9911796707
TMI Blog2011 (12) TMI 529X X X X Extracts X X X X X X X X Extracts X X X X ..... nbsp; They have filed three shipping bills at ICD, Patparganj, Delhi for export of fabrics totally valued at about Rs. 9.25 crores. As the Revenue entertained a doubt about the correct value of the said fabrics as reflected in the shipping bills, investigations were started. However, subsequently the said three consignments were permitted to be exported on execution of bond with bank guarantee of Rs. 2 crores furnished on 17.06.11. 3. Subsequently another shipping bill was filed by the appellant on 15.06.11, which was also detained for investigation. Vide letter dated 11.07.11, the goods were allowed to be released provisionally on execution of bond for a value equal to 100% of the value declared in the shipping bill with bank ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... y the appellant at the time of earlier exports covered by three shipping bills dtd. 19.05.11, 20.05.11 and 28.05.11. He also rejected the appellants prayer for waiver of condition of furnishing the bank guarantee to the extent of 25% of the value of the goods recovered subsequently shipping bills dtd. 15.06.11. Hence the present appeal. 6. It stands contested by the ld. Advocate appearing for the appellant that they had given earlier the bank guarantee for Rs. 2 crores for provisional release of earlier export consignment. They have received the full remittance from their overseas buyers to the extent of Rs. 9.25 crores. The said exports were made under DEPB claim which runs into Rs. 60 lakhs. The said claim is still with the Revenue and ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... demption fine and penalty. As such he submits that the directions of the Commissioner for execution of bank guarantee and bond are appropriate and should be upheld. 8. After considering the submissions made by both sides, we find that the appellant had already given a bank guarantee of Rs. 2 crores to cover the earlier three consignments. The exports are being made under DEPB scheme. Even if the Revenue's case is proved the consequence of the same would be denial of said DEPB. The Revenue has already drawn samples from the present consignment, in which case provisional release of the same would not cause any adverse affect to the Revenue's case. Even in terms of the Board's Circular it stands observed that inordinate detention ..... X X X X Extracts X X X X X X X X Extracts X X X X
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