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2014 (1) TMI 225 - HC - CustomsRelease of bank guarantee - Confiscation of goods - Provisional release of goods - Held that:- where the goods are provisionally released subject to security, awaiting adjudication the security including the bank guarantee, the security cannot be released, until the adjudication is concluded. Sub-section (2) of Section 110 is not applicable where the provisional release has been made conditionally either in exercise of Section 110 (1A) or Section 110A of the Customs Act - bank guarantee was submitted on a specific condition to safeguard fine and penalty arising in adjudication proceeding. The condition no.3 clearly provided that the bank guarantee shall remain valid upto finalization of the case and should have a self renewal clause. In the circumstances when the notice issued with an extended period of limitation, is not under challenge, and the adjudication is pending, there is no question of release of bank guarantee at this stage - Decided against assessee.
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