9911796707
Advanced Search 
TMI Blog2019 (2) TMI 976X X X X Extracts X X X X X X X X Extracts X X X X ..... ,437 belonging to M/s Choksi Vachhraj Makanji & Co. on such terms and conditions, as may be deemed fit by this court. The applicant also seeks stay of recovery of penalties imposed on M/s D. Jewel and M/s Choksi Vachhraj Makanji & Co. during the pendency of the tax appeal. 3. By an order dated 22.11.2018, the appeal has been admitted by framing substantial questions of law. 4. The applicants M/s D. Jewel and M/s Choksi Vachhraj Makanji & Co. are the original appellants who have challenged the order dated 11.10.2018 passed by the Customs, Excise and Service Tax Appellate Tribunal in Appeal No.C/10113 to 10200/2018, whereby the appeals filed by the applicants against the Order-in-Original dated 4.11.2016 passed by the adjudicating authority ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... with by the Tribunal. Following the said case, which according to the Tribunal was identical to the present case, the Tribunal did not deem it necessary to interfere. The attention of the court was invited to the order dated 15.09.2017 passed by the Tribunal in the case of Dharmesh Pansuriya (supra) wherein the Tribunal has held thus: "However, on the issue of considering the quantum of redemption fine imposed by the adjudicating authority, we find substance in the contention of the Revenue inasmuch as, wiping out of profit cannot always be the yardstick invariably in all the circumstances in fixing the quantum of fine; also in the present case, there has been no data to support the finding that the margin of profit from such illicit tra ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... uch terms and conditions as may be deemed fit. 6. On the other hand Mr. Viral K Shah, learned senior standing counsel for the respondents submitted that in case of Dharmesh Pansuriya, it was the revenue which was in appeal, despite which the court had directed the assessee to furnish a bank guarantee in addition to the redemption fine imposed by the Tribunal; therefore, if at all the court is inclined to direct release of the confiscated goods, this factor may be kept in mind. 7. The applicants seek release of the confiscated goods subject to the reasonable conditions as well as stay of penalty. From the impugned order of the Tribunal, it is apparent that the case of Dharmesh Pansuriya is identical to the case of the appellants, despite w ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the above discussion, the application succeeds and is, accordingly, allowed to the following extent: By way of interim relief, it is directed that upon paying redemption fine to the extent of 10% of the value of the confiscated goods and penalty to the extent of 1% of the value of the confiscated goods, and furnishing bank guarantees of Rs. 50 lakh by each of the applicants, to be kept alive till the final disposal of the appeal, before the Commissioner of Customs, Surat, the authority is directed to release in favour of the applicants all the confiscated goods at the earliest, in any case not later than two weeks from making the deposits and furnishing the bank guarantees referred to above. Upon payment of one percent of the value of the ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
