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2012 (4) TMI 257 - MADRAS HIGH COURTRelease of goods – petition to direct respondents to accept the contracted price, declared in the relevant B/E, as the transaction value, as per Section 14(1) of the Customs Act, 1962, read with Rule 4 of the Customs Valuation Rules – differential duty payable is ₹ 8.81 lacs - Held that:- Court finds it appropriate to release the goods in question relating to relevant B/Es, subject to the petitioner executing a bond for a sum of ₹ 48,54,000/ and furnishing a bank guarantee for ₹ 5,00,000/-. It is open to the respondents to pass final orders, based on the investigation, and adjudication process.
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