2014 (8) TMI 1089

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..... s which is still alive, we direct the applicant to execute a bank guarantee of another ₹ 3.00 crores in favour of the Commissioner of Customs (Import), New Customs House, Mumbai, to safe guard the interest of revenue. On such execution of bank guarantee of ₹ 3.00 crores, the learned Commissioner of Customs (Import), Mumbai shall allow the applicant to take the vessel outside India for .....

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..... Revenue reclassified the same under Customs Tariff Heading 8905 of the Tariff and confirmed the demand of ₹ 18.48 crores with interest and also imposed penalty. The adjudicating authority also ordered confiscation of the vessel and allowed release of the same on payment of redemption fine of ₹ 12 crores. 4. The applicant filed appeal before the Tribunal and the Tribunal vide stay o .....

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..... nt had also executed a bank guarantee for ₹ 8.20 crores which is still alive, we direct the applicant to execute a bank guarantee of another ₹ 3.00 crores in favour of the Commissioner of Customs (Import), New Customs House, Mumbai, to safe guard the interest of revenue. On such execution of bank guarantee of ₹ 3.00 crores, the learned Commissioner of Customs (Import), Mumbai sha .....

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