Home Case Index All Cases Customs Customs + HC Customs - 2014 (1) TMI HC This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2014 (1) TMI 12 - HC - CustomsConfiscation of goods - Import of PU Coated Fabric - Provisional release under Section 110A - Held that:- relevant guidelines to the effect that the Bank Guarantee shall not exceed twice the amount of duty is not to apply to a case involving a serious fraud. In the present case, as the affidavit in reply indicates, there are allegations of serious fraud and malpractice on the part of the petitioners. Hence, we do not find that there is substance in that contention of the petitioners - an amount of Rs. 2 crores is lying in deposit with the Customs authorities, the extent of the Bank Guarantee demanded appears to be disproportionate. The adjudication is still pending and the allegations against the petitioner are still to be proved in the course of adjudication. What should be the correct assessable value has to be still determined on adjudication. The ends of justice would be met if the quantum of the Bank Guarantee is duly modified from 30% of the redetermined assessable value to 15% of the redetermined assessable value - no need to interfere with the terms and conditions imposed in the order for provisional release - Decided against assessee.
|