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TMI Blog2024 (5) TMI 477X X X X Extracts X X X X X X X X Extracts X X X X ..... s as observed at paragraph 2.1. of this order (supra). As the conditions are found to be reasonable, we hold that the appellant should fulfil the same conditions for provisional release of the gold. Since the present proceedings are in connection with provisional release of the gold in question, we refrain from expressing any opinion about the merits or otherwise of the issue, which shall be decided at the time of adjudication by the ld. adjudicating authority. Accordingly, we order for provisional release of the 4 seized gold bars on the condition that the appellant provides a Bond for the full value of the seized gold supported by Bank Guarantee to the extent of 25% of the value of the seized goods. The Department is directed to release the gold on provisional basis to the appellant, subject to fulfilment of the above conditions. The appeal is disposed of on the above terms. - HON BLE SHRI ASHOK JINDAL, MEMBER (JUDICIAL) And HON BLE SHRI K. ANPAZHAKAN, MEMBER (TECHNICAL) Shri Mainak Bose, Shri Neeraj Kumar Pandey and Shri Shakeel Md. Akhter, Advocate(s) for the Appellant Shri Sourabh Chakravorty, Authorized Representative for the Respondent ORDER Order : [ PER SHRI K. ANPAZHAKA ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ed by the Tribunal, we are inclined to remand the matter back to the Tribunal for a fresh decision on merits and in accordance with law after hearing the parties and considering all documents and the application be disposed of by a speaking order. The appeal is allowed with the above direction. (page 6) 1.2. In pursuance of the direction of the Hon ble High Court, this Tribunal has taken up the issue for fresh decision. Accordingly, personal hearing was granted to both the appellant and the Department, on 03.05.2024. 2. In their appeal, the appellant has made the following submissions: - (i) The appellant purchased 14 gold bars of 1 kilogramme each from M/s. HDFC Bank Limited on 10.10.2023. M/s. HDFC Bank Ltd. issued two invoices one in respect of 10 gold bars and the other in respect of 4 gold bars in favour of the appellant-company. In the said invoices, M/s. HDFC Bank Ltd. has given the details of the Bill-of-Entry under which these gold bars were imported from Perth Mint , Australia. (ii) The appellant-company collected the said gold bars from the vault operated by M/s. Brinks India Private Limited. In the packing list issued by M/s. Brinks India Pvt. Ltd., the serial numbers o ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... from the Branch Manager of M/s. HDFC Bank Ltd., regarding the authenticity of the invoices and purchase made by the appellant-company. Vide letter dated 20.10.2023, the Branch Manager categorically informed that the gold bars were purchased by the appellant-company from M/s. HDFC Bank Ltd. and affirmed that the invoices provided by them were genuine. Later, the Ld. Chief Metropolitan Magistrate, Kolkata has granted bail to the employees of the appellant-company on the basis of the report issued by M/s. HDFC Bank Ltd. vide Order dated 08.11.2023. (viii) In view of the report dated 20.10.2023 by the Branch Manager, M/s. HDFC Bank Ltd., the appellant-company made a representation dated 14.11.2023 to the Department seeking unconditional release of the said gold bars along with the vehicle belonging to the appellant-company. Since the gold seized was not released, the appellant filed a Writ Petition in W.P.O. No. 1828 of 2023 dated 07.12.2023. The Hon ble High Court vide order dated 13.12.2023 disposed of the Writ Petition directing the Department to decide the appellant s request for release of the gold within a week from the said Order. (ix) The Department vide order dated 15.12.2023 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... are fulfilled, Revenue to release their gold on provisional basis. Proper release of Panchnama should be made at the time of handing over the goods to the Appellant. 3. We would like to add further that release of good on provisional basis will not/should not have any impact on the normal adjudication proceedings to be taken up by the Revenue. We are not expressing any opinion on this case on merits while giving the present order for releasing the goods on provisional basis. 3. Aggrieved against the said order, the Department preferred appeal before the Hon ble High Court at Calcutta opposing the above said direction of this Tribunal by way of appeal bearing No. CUSTA/34/2024 and IA No.: GA/1/2024 and the Hon ble High Court, vide Order dated 10.04.2024, directed the Tribunal to pass a speaking order and to decide the issue within a period of 30 days from the date of communication of the order of the Hon ble High Court. 4. In support of their request for provisional release of the gold bars seized, the appellant submits that the tax invoice issued by M/s. HDFC Bank Ltd. categorically establishes that they had purchased the 4 gold bars from M/s. HDFC Bank Ltd. The appellant submits t ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... icers suspected that the 4 gold bars available with the employees of the appellant-company were smuggled in nature. Thus, the main issue to be decided in this case is whether the 4 gold bars seized from the employees of the appellant company are the gold bars purchased by the appellant company from M/s. HDFC or not. For that purpose, it is required to establish a correlation between the marks and numbers available in the seized gold and the 4 gold bars purchased by the appellant company from M/s. HDFC. 7.2. We observe that M/s. HDFC issued a separate Invoice for sale of the 4 gold bars to the appellant. For the sake of ready reference, the tax invoice issued M/s. HDFC in respect of the 4 kgs. dated 10.10.2023 is reproduced below : - 7.1. We also find that a packing list was issued by M/s. Brinks India Pvt. Ltd. containing the marks and numbers as available on the said gold bars sold by them to the Appellant. For the sake of ready reference, the scanned copy of the packing list is reproduced below : - 7.2. The appellant submits that they have issued challans for the purpose of job work of the gold bars to M/s. Kalyan Jewellers Ltd. At the time of hearing, the appellant produced the ..... X X X X Extracts X X X X X X X X Extracts X X X X
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