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TMI Blog2023 (11) TMI 72X X X X Extracts X X X X X X X X Extracts X X X X ..... it is not yet proved to be of foreign provenance. The same has been seized as a part of investigation from the appellant s premises. Appellant claims to have provided proof of their licit origin and of having been properly recorded in their books of account and informed to the Department in their periodic returns, but these could only be considered during adjudication and hence, no views expressed at this stage. But the matter has not been adjudicated even after a lapse of more than one and half years - the balance of convenience would be to ensure that the Department s interests are secured while the appellant is also allowed to continue with its business. The Hon ble High Court of New Delhi in its judgment in Its ADDITIONAL DIRECTOR GE ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ble Mr. P. Dinesha ] It is the case of the appellant that they are in the business of local trade of gold and silver bullion, jewellery, etc., and that they are in the said business from the year 2020, in which Shri N.S. Balaji and his wife Smt. N.B. Anita are partners. For the purpose of conduct of the business in bullion and jewellery, the appellant is registered with the G.S.T. authorities having Registration No. 33AEGFS0250QIZU and that they have been filing their returns with the G.S.T. authorities on local purchase and sale of bullion and jewellery without any default or let on their part. 1.2 It is the further case of the appellant that on 02.02.2022, officers of the DRI conducted search and seizure operations at the premises ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... uested for release of the crude gold bullion seized from their office. 3. The appellant, having not obtained any order as to the release of the seized crude gold bullion as requested, appears to have approached the Hon ble High Court by way of multiple Writ Petitions and the Hon ble High Court vide its latest Order in W.P. No. 24141 of 2022 dated 30.09.2022, directed the lower authority to dispose of the request for release of goods by following the principles of natural justice, consequent to which the Principal Commissioner of Customs (Air Cargo), Chennai has passed the impugned order thereby again reiterating that the seized gold could not be provisionally released and thereby rejecting their application. 4. The Learned Principal C ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ence, it is premature for the learned adjudicating authority to conclude that the seized gold was prohibited goods. Hence the impugned order is preconceived and arbitrary. He has referred to the Judgment of the Hon ble High Court of New Delhi in Additional Director General (Adjudication) vs Its My Name Pvt. Ltd. [2021 (375) E.L.T. 545 (Del.)] to state that mere fact that imported goods, consequent on adjudication may, possibly, be held liable to confiscation at a later stage, cannot be a ground to refuse provisional release. He thus prayed that the impugned goods may be ordered to be released provisionally. 8. Shri Rudra Pratap Singh, Ld. Authorized Representative (Additional Commissioner) for the Revenue has vehemently opposed the relea ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... urt while disposing of the Special Leave Petition filed against the Hon ble High Court judgment by Revenue, has upheld the same while enhancing the Bank Guarantee to about 50%. 11. We also feel that it would serve the interest of the Revenue and the appellant to follow the said terms and conditions while ordering release of the impugned goods provisionally as per Section 110A of the Customs Act 1962. We hence order the release of the seized goods, for which the appellant may furnish a bond, for the full value of the seized goods, along with a Bank Guarantee containing an auto renewal clause for an amount of 30% of the value of the seized goods subject to the condition that the premises of the appellant would be kept open for inspection b ..... X X X X Extracts X X X X X X X X Extracts X X X X
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