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2016 (9) TMI 1088 - HC - CustomsRefund claim after adjustment of customs duty - demand of differential duty - mis-declaration of goods - imported paper - Held that: - Once the adjudication was completed and the true value determined, it is the differential duty which has to be deposited. That differential duty and no other amount can be recovered from the petitioner or even the deposit made by it. At the same time, since the petitioner has not disputed its Director’s liability, the Court is of the opinion that even the amount of ₹ 10 lakhs cannot be claimed at this stage given that a concession to that effect is made in the prayer clause. The respondents directed to process the petitioner’s refund and ensure that the excess amount after adjusting the differential duty and further adjusting the penalty of ₹ 10 lakhs, repay/refund the balance within three weeks along with interest as admissible. The respondents shall pass a speaking order in this regard. The bank guarantees furnished by the petitioner pursuant to the Court’s order during the pendency of adjudication shall also be discharged. Petition allowed - decided in favor of petitioner.
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