9911796707
TMI Blog2016 (5) TMI 651X X X X Extracts X X X X X X X X Extracts X X X X ..... the Respondent : Shri M.K. Sarangi, Jt. Commr (AR) ORDER PER: M.V. RAVINDRAN This miscellaneous application is filed by the applicant praying for stay of the operation of the impugned order in respect of the redemption fine imposed by the adjudicating authority. 2. Brief facts that arise for consideration is appellant imported a yacht and filed bill of entry as yacht "AZIMUT 68". It was notice ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the operation of the impugned order as it relates to redemption fine needs to be stayed, as in the absence of any stay, department will take coercive action to recover the same. It is his submission that such an action will negate the provisions of Section 129E of Customs Act; that the Tribunal has got inherent powers under Rule 41 of CESTAT Procedure Rules to stay the recovery of the redemption f ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ny stay petition against impugned order. The provisions of Section 129E of the Customs Act, 1962, as applicable in this case specifically say so. In order to appreciate the correct position of law we reproduce the Section 129E of the Customs Act, 1962. "129E. Deposit of certain percentage of duty demanded or penalty imposed before filing appeal, - The Tribunal or the Commissioner (Appeals), as ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... sub-section (1) of section 129A, unless the appellant has deposited ten percent. of the duty, in case where duty or duty and penalty are in dispute, or penalty, where such penalty is in dispute, in pursuance of the decision or order appealed against: PROVIDED that the amount required to be deposited under this Section shall not exceed rupees ten crores: PROVIDED FURTHER that the provisions of ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... respect of the redemption fine imposed. By invoking inherent powers of the Tribunal orders were passed for staying operation in respect of redemption fine. All the case laws cited by learned Counsel were the decisions under erstwhile Section 129E of Customs Act, 1962, hence may not be applicable in the current scenario. 6. In view of the foregoing, as there are no provisions, we do not find any ..... X X X X Extracts X X X X X X X X Extracts X X X X
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