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TMI Blog2018 (2) TMI 1689X X X X Extracts X X X X X X X X Extracts X X X X ..... ate for the Appellants Shri Ahibaran, Additional Commissioner (A.R.) for the Respondent ORDER Per : Ramesh Nair This appeal is directed against Order-in-Original 29/2017-18 dated 11-1-2018 passed by the Commissioner of Customs(Import-I), New Custom House, Ballard Estate, Mumbai, whereby Ld. Commissioner ordered for provisional release of the vessel Sagar Fortune (IMO No. 9458327) covered under ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... s 8901 is correct. She further submits that taking into consideration the issue involved on merit the condition of 30% of the bank guarantee imposed by the Commissioner is very harsh, the same may be relaxed. In support of her submission, she placed reliance on following judgments: (a) Hede Offshore Ltd Vs. CC[2014(303)ELT 119(Tri. Mumbai)] (b) HedeFeprominas Pvt Ltd Vs. CC[2016(334)ELT 540 (T ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ee of 30% of the estimated value is reasonable or harsh. On going through board circular No. 35/07-Cus dated 16-8-17 whereby guidelines for provisional release of seized imported goods pending for adjudication under Section 11A of customs Act, 1962 was issued. Relevant paragraph 2.2 reads as under: 2.2. Further, in addition to the Bond mentioned at Para 2.1 above, the competent authority shall ta ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the present case value of the goods estimated by the customs authority is Rs. 41.45 crore, accordingly differential duty amount (after payment of duty on the declared value) come to Rs. 3.62 crores. By taking this differential duty, we are of the view that total amount as per the guidelines given in para 2.2 of Circular dated 16-8-2017 should be approximately not more than Rs. 10 Crores. According ..... X X X X Extracts X X X X X X X X Extracts X X X X
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