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2013 (9) TMI 386 - AT - CustomsRelease of confiscated goods - Import of vessel - vessel for transport of persons / goods or vessel for pleasure - Benefit of Notification No.21/2002- Misdeclaration of Value – Undervaluation of Goods - Held that:- Almost the entire amount of duty based on the value of the vessel as determined in the show-cause notice stands paid by the appellant - only a small amount remains to be paid towards duty, which the appellant can deposit - The appellant also was said to be willing to deposit interest on duty - Considering the fact that the vessel imported by the appellant was not prohibited goods and that no offence of serious nature had been framed against them in the show-cause notice and that the substantive dispute in this case was one of classification of the vessel - Order modified to such extent - Decided in favour of assessee. After taking into account all the relevant factors - The vessel can be provisionally released to the appellant - The adjudicating authority ought not to have imposed such harsh conditions - it was without particularising the revenue interest involved in the impugned vessel that the Commissioner required the appellant to furnish bank guarantee so as to safeguard the revenue interest.
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