TMI Blog2016 (9) TMI 75X X X X Extracts X X X X X X X X Extracts X X X X ..... r ordering confiscation / redemption either the goods should be physically available for confiscation or an instrument in the form of bond / bank guarantee should exist when the goods were released to the Respondent. Here it was argued that a bond / Bank guarantee has been executed by the appellant. Adjournment was given to the AR to produce such Bond / Bank guarantee executed by the Respondent. N ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ol/CUS/PORT/16/2007 dt 28/2/2007 passed by CC (Port), Kolkata-01 as Adjudicating authority. 2. Sh. S. K. Naskar AC (AR) appearing on behalf of the Revenue argued that adjudicating authority has not ordered confiscation of the goods under Sec 125 of the Customs Act 1962 on the grounds that imported goods are not available for confiscation. It was his case that as per Apex Courts order in the ca ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the stake are goods. In the absence of goods theoretically even if redemption fine is imposed then an importer / exporter can take a stand that he is not interested in what has been confiscated. However, if the goods are released subject to an ITC bond and or bank guarantee then these instruments executed by the importer / exporter can enforce to recover redemption fine. If neither the goods are a ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... is found that the import was not valid or that there was any other irregularity which would entitle the customs authorities to confiscate the said goods, then the mere fact that the goods were released on the bond being executed, would not take away the power of the customs authorities to levy redemption fine. 4.1. It is evident from the above order that a bond was executed by Weston Compone ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... o such Bond / Bank guarantee executed by the appellant is brought on record till date. The matter is remanded to the Adjudicating authority for the limited purpose of deciding the matter afresh in the light of Bond / Bank Guarantee if any executed at the time of release of the imported goods. If there is no Bond and or Bank Guarantee given by the Respondent at the time of release of goods then no ..... X X X X Extracts X X X X X X X X Extracts X X X X
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