TMI Blog2014 (2) TMI 1017X X X X Extracts X X X X X X X X Extracts X X X X ..... of pre-deposit and stay - Taking the totality of the circumstances into account and duly considering the hardship of the petitioners and the interests of Revenue as well, we find no justification to modify the order dated 18.3.2013 directing remittance deposit of 25% of the adjudicated liability as pre-deposit. However, appellant may either deposit 25% of the duty liability assessed by the orders in original dated 26.3.2011 and 30.4.2012 bearing reference Nos.16/2011 and 11/2012 or may furnish bank guarantee for the amount representing 25% of the duty liability, within six weeks - Decided partly in favour of assessee. - Customs Appeals No.366 of 2011 & 2411 to 2416 of 2012 - Misc. Order No. 60046 60047/2013 - Dated:- 3-12-2013 - G ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... of entry specified in the show cause notice, including the goods seized and lying in the go-down of the appellant; re-determined their value at Rs.1,07,71,458/-; confirmed a differential duty demand of Rs.15,23,237/- as short-paid/evaded by the appellant company, M/s Euro Asia Global; directed recovery of this amount from Shri Sangit Agrawal and the appellant M/s Euro Asia Global; directed recovery of interest under Section 28(AB) of the Customs, 1962; ordered confiscation of the goods covered by the two bills of entry of the re-determined value of Rs.1,07,71,458/-; imposed redemption fine of Rs.15 lakhs in lieu of confiscation; imposed a penalty of Rs.15,23,237/- on M/s Euro Asia Global and imposed penalty of Rs.5 lakhs on Shri Sangit Agr ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... permitted the appellant to move an application before this Tribunal indicating its financial hardship. After the said application was moved, the Tribunal was directed to pass appropriate orders, by observing that the Tribunal would be free to modify its earlier order dated 18.3.2013, if impressed with arguments regarding the appellant's serious financial hardship. Hence these applications. 4. On 20.8.2013 while adjourning hearing of the Misc. Applications, this Tribunal, with a view to protect the interests of Revenue, recorded the consent of the appellant for encashment of a bank guarantee of Rs.9 lakhs. This Tribunal also directed the jurisdictional Commissioner to furnish a report regarding the financial position of the appellant, to e ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ed to support the contention as to the acquisition of the land. The Commissioner's report also sets out (in para 4) the assets and liabilities of Mr. Sangit Agrawal and concludes that the net worth of Mr. Sangit Agrawal is Rs.9,45,36,021.05. These computations are based on certification by the Chartered Accountant of Mr. Sangit Agrawal, M/s PARM SMRN dated 1.11.2013. 6. Shri B.L. Narasimhan, ld. Counsel for the appellants would however submit that the value to the extent of Rs.7,52,60,000/- in respect of agricultural land in Issapur village, Delhi should have been excluded. Mr. Sangit Agrawal is neither in the custody nor in beneficial enjoyment to this extent, in view of the order dated 17.9.08 passed by the empowered committee appointe ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ellants fail in the appeals, before this Tribunal. 9. Taking the totality of the circumstances into account and duly considering the hardship of the petitioners and the interests of Revenue as well, we find no justification to modify the order dated 18.3.2013 directing remittance deposit of 25% of the adjudicated liability as pre-deposit. We however modify the order dated 18.3.2013 only to this extent. Accordingly, the appellant/petitioners M/s Euro Asia Global/Mr. Sangit Agrawal may either deposit 25% of the duty liability assessed by the orders in original dated 26.3.2011 and 30.4.2012 bearing reference Nos.16/2011 and 11/2012 or may furnish bank guarantee for the amount representing 25% of the duty liability, within six weeks from toda ..... X X X X Extracts X X X X X X X X Extracts X X X X
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