TMI Blog2012 (10) TMI 42X X X X Extracts X X X X X X X X Extracts X X X X ..... and for delayed payment, he paid interest and thus, he did not avail the benefit of that notification - assessee conducting himself contrary to the notification thus exposing himself to the order of confiscation, do not arise - when once the assessee pay the duty and interest, goods will be out of the ambit of the said notification and they cannot be held liable for confiscation under Section 111( ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... r the special scheme availing the benefit of Customs notification No. 29/97-Cus., dated 1-4-1997 as amended. On the import of capital goods under the above scheme, the duty foregone by the revenue is to the tune of Rs. 12,96,480/-. The notification lists out the conditions subject to which exemption would be available. According to Condition No. (1), the importer should possess valid licence issue ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... he was called upon to pay the duty and for delayed payment of duty, interest thereon was levied. The assessee paid the duty and the interest. It is thereafter the authorities initiated proceedings of confiscation and passed the impugned order confiscating the goods and appropriating the amount by enforcing the bank guarantee. It is that order which was challenged by the assessee before the Tribuna ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... nfiscation is valid. Consequently, the order imposing penalty and fine is also in order. Therefore, the Tribunal was in error in setting aside the order. 4. Per contra, learned counsel for the assessee argued in support of the impugned order. 5. From the aforesaid material, it is clear that the Notification No. 27/97-Cus., dated 1-4-1997 as amended grants benefit to the assessee insofar as pay ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ee conducting himself contrary to the notification thus exposing himself to the order of confiscation, do not arise. It is under these circumstances the Tribunal was justified in holding that when once the assessee pay the duty and interest, goods will be out of the ambit of the said notification and they cannot be held liable for confiscation under Section 111(o) of the Act. The said finding is l ..... X X X X Extracts X X X X X X X X Extracts X X X X
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