TMI Blog2014 (7) TMI 777X X X X Extracts X X X X X X X X Extracts X X X X ..... assessed by the department. Decided partly in favor of assessee. - W. P. No. 16186 of 2014 - - - Dated:- 4-7-2014 - B. Rajendran,JJ. For the Petitioner : Mr. K. Sridhar For the Respondents : Mr. Haja Mohideen Gisthi for RR1 and 3 Mr. Velayutham Pitchiah for R2 ORDER The petitioner has come forward with this writ petition challenging the communication dated 19.09.2013 of the third respondent, in and by which, the petitioner was called upon to furnish bank guarantee for the value equal to the differential duty arising out of the exchange rate as per the orders of the competent authority in partial modification of the demand made in the letter dated 19.09.2013. 2. The petitioner is engaged in the business of importing ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... oved the Honourable Supreme Court in SLP No. 26163 of 2013 which was disposed of on 09.09.2013 directing the respondents to pass appropriate order in terms of Section 110 A of the Customs Act. On compliance of the order passed by the Honourable Supreme Court of India, the first respondent, by order dated 19.09.2013, directed the petitioner to comply with certain conditions. However, by the impugned condition, the conditions imposed in the order dated 19.09.2013 and directed the petitioner to furnish bank guarantee for the value equal to the differential duty. As against the same, the present writ petition is filed. 3. The learned counsel appearing for the petitioner would contend that the conditions imposed by the third respondent for pr ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... dents 1 and 3, would contend that after the decision rendered by the Honourable Supreme Court in Navasakthi Industries Case, several other decisions have been rendered by the Honourable Supreme Court wherein the Honourable Supreme Court ordered to pay 50% of the amount demanded by the department as a condition precedent for release of the goods. In any event, if the goods are ordered to be released, the valuation, as adopted by the department in the show cause notice has to be taken into consideration besides imposing such other conditions as this Honourable Court may deems fit. 5. The learned counsel appearing for the second respondent would contend that for releasing the goods, the value, as adopted by the department, has to be taken i ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ondents to release the goods covered under Bill of Entry No.4115548 dated 18.12.2013 (IGM No.2019714 dated 07.09.2011) to the petitioner subject to the following conditions:- (i) The petitioner is directed to pay 100% tax on the value declared by them i.e., ₹ 76,64,324/- as against the value of ₹ 1,39,73,896/- determined by the department (ii) For the differential in duty i.e., ₹ 43,80,981/- the petitioner is directed to furnish bank guarantee (iii) The petitioner is also directed to execute a bond for 100% of the value assessed by the department i.e., at 1,39,73,896/- (iv) On compliance of condition Nos. (i) to (iii) above, the respondents/department are directed to release the goods in question to the petitio ..... X X X X Extracts X X X X X X X X Extracts X X X X
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