9911796707
TMI Blog2019 (10) TMI 697X X X X Extracts X X X X X X X X Extracts X X X X ..... amount of duty, interest and penalty of ₹ 87,05,435/- already deposited by the appellant. Therefore, the amount deposited by the appellant appears to be sufficient as security. However, on perusal of appellant s request for reconsideration of the condition for release of the goods vide letter dated 06.08.2019, we find that appellant themselves have proposed to give bank guarantee for 25% of ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... l whereby order of the Principal Commissioner, Customs House, Mundra was communicated by Assistant Commissioner, Import Section, Customs House, Mundra, according to which the order of provisional release of the imported goods was passed. Ld. Principal Commissioner put a condition to furnish bond of full value of seized goods and give a bank guarantee of ₹ 85 Lakhs. Being aggrieved by the con ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... l Commissioner ordered for execution of bank guarantee for ₹ 85Lakh. He further submits that this Tribunal in the case of Radha Trading vs. CC, Kandla vide order No. A/11292-11299/2018 dated 02.07.2018 disposed the appeal on the identical issue of provisional release wherein bank guarantee to the tune of entire differential duty and 25% of the value of goods has been demanded. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the bond amount on the ground that major amount of ₹ 87Lakh has already been paid. We also find it sufficient to safeguard the interests of the Revenue, if bank guarantee of 25% of the bond amount is furnished. Accordingly, we reduce the amount of bank guarantee from ₹ 85 Lakh to 25% value of the seized goods. 5. The impugned order stand modified to the above extent. App ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
