2015 (9) TMI 28

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..... ed by respondent – Held that:- Supreme Court in Commissioner v. Navshakti Industries Ltd. [2011 (5) TMI 149 - SUPREME COURT] directed provisional release of subject goods based on condition that security in form of bank guarantee equivalent to 30% of differential duty be furnished –In present case, vide impugned order value of bank guarantee stipulated was 1.75 times differential rate of duty – Sa .....

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..... gested in SCN Value declared by the party as SCN Extent of under-valuation Differential Duty leviable @ 28.852% approx. (Rs.) (Rs.) (Rs.) (Rs.) 2,71,56,454/- 1,17,65,999/- 1,53,90,455 44,40,454/ 2. Mr. .....

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..... avshakti Industries Ltd. [2011 (269) E.L.T. A 146 (S.C.)] directed provisional release of the subject goods in that case (which incidentally was an Aircraft) based on the condition that security in the form of bank guarantee equivalent to 30% of the differential duty be furnished. 4.1 In the present case, it is noticed that by virtue of the impugned order the value of bank guarantee stipulated .....

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