9911796707
TMI Blog2011 (8) TMI 947X X X X Extracts X X X X X X X X Extracts X X X X ..... l release of 7 cranes seized by the Respondent and challenges the action of the Respondent. Between 2007 and 2010, the Petitioner claims to have imported 49 cranes. The exact figure is a matter of dispute because, according to the Revenue, a total of 61 cranes were imported. There is no dispute about the fact that all the cranes which were imported, were subject to orders of assessment and were cleared against the payment of duty. On 23 November 2010, the Investigating Officers of the Directorate of Revenue Intelligence seized 9 cranes which were lodged in a warehouse acting on information that there had been a gross undervaluation of the import price declared. On 22 December 2010, 29 December 2010, 22 February 2011 and 23 February 2011, th ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... tioner but, in reality, he is a benami owner of the Petitioner. According to the Revenue, investigations have revealed under valuation in the declared prices of the imported cranes and that the freight component which forms part of the CIF value has been suppressed or fraudulently not disclosed. The Revenue states that the investigations have inter alia revealed a serious and dis-proportionate under valuation of the cranes imported. According to the Revenue, the documents show that the cranes were imported at highly under valued prices ranging from Rs. 40/- to Rs. 45/- per kg of the weight of the cranes as opposed to the actual transaction value. According to the Revenue, the original purchase invoices would indicate under valuation to the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ourse of business. 7. On the other hand, learned Counsel on behalf of the Revenue has placed extensive reliance on the contents of the affidavit and on the sur-rejoinder which has been filed in these proceedings on 16 August 2011. The contention of the Revenue is that the statements which were recorded on 29 March 2011 and 30 March 2011 are voluntary. The fact that the Petitioner has deposited an amount of Rs. 80,00,000/- is not disputed though it is contended that the aforesaid amount must be considered in the context of the over-all liability to the payment of duty which may be attracted in respect of a future adjudication in respect of 61 cranes. Learned Counsel submitted that this is a case involving a serious fraud by Shri Natwar ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... conditions as the authority may deem fit to impose. In our view, it would not be either appropriate or proper to restrict or curtail the power of the adjudicating authority to demand security or to impose conditions by confining the exercise of that power along the lines of the conditions imposed in the Customs (Provisional Duty Assessment) Regulations 1963. Those Regulations operate in a different field." 9. Section 110A permits the adjudicating authority to release seized goods pending an order of adjudication subject to the owner furnishing a bond with such security and conditions as the adjudicating authority may require, On the material which has emerged during the course of investigation and which has been adverted to in the aff ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
