9911796707
TMI Blog2016 (3) TMI 558X X X X Extracts X X X X X X X X Extracts X X X X ..... half of the applicant submits that the matter relates to seizure of aircraft at Madurai. He submits that the applicant had imported one aircraft VT-AVH Falcon 2000 into India vide Bill of Entry No. 268017 dated 19.01.2011 and it was provisionally assessed on furnishing a PD bond and bank guarantee equal to 5% of differential customs duty. Subsequently it was taken out of India on 14.07.2014 on a voyage as a ferry flight and returned on 16.07.2014. On arrival into India, the Officer of AIU, Madurai Airport seized the aircraft under Section 110 of Customs Act under valid Mahazaron the ground that this movement of the aircraft amounts to export and reimport and the appellantfailed to submit the Shipping Bill/Bill of Entry. The appellant reques ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... s transaction aircraft though it was sold and leased out, it was in their possession and it was a case of re-import. He submits that the Notification No.94/96 dt. 16.12.96 as amended exemptscustoms duty on re-imported goods under various categories and submits that since they have not claimed any drawback or DEEC benefit, they are covered under Sl.No.3 of the said notification where the rate of duty of re-imported goods is NIL. He further submits that even it is considered as import, the Sl.No.453 of exemption notification 12/12 dt. 17.3.2012 as amended prescribes the effective rate of duty of 2.5% for the aircraft falling under 8802.Considering the original import value, the duty payable as per the above notification comes to only Rs. 3.20 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... eizure mahazardt. 25.7.2015, the Senior Intelligence officer, Air Intelligence Unit, Customs Airport, Madurai has seized the aircraft under section 110 of the Customs Act on the reasonable belief that aircraft has been exported and imported illegally in violation of Sections 50 and 46 of the Customs Act and the said aircraft was handed over to the custody of the appellant by "Supurdginama" dt. 25/7/2015. Thereafter, appellant sought for release of the aircraft and the Principal Commissioner, Madurai in his order allowed provisional release on execution of bank guarantee of Rs. 25,89,44,000/-. 5. On perusal of sale and purchase agreement dt. 11.7.2014 we find the aircraft has been sold to overseas buyer INV-2Leasing Company Ltd., Ireland. S ..... X X X X Extracts X X X X X X X X Extracts X X X X
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