TMI Blog2006 (2) TMI 187X X X X Extracts X X X X X X X X Extracts X X X X ..... relevant to four out of the twelve bills of entry. This payment was remitted by the petitioner by declaring the value of the imported goods to be in the range of US$ 204 to US$ 225 PMT. 3. While the remainder of the consignment covered by eight bills of entry was awaiting clearance, certain investigation appears to have been initiated by the Directorate of Revenue Intelligence. In the course of the said investigation, the Managing Director of the petitioner company was arrested and the goods in question seized. 4. The petitioner's grievance in the present writ petition now is that although it had approached the respondent for a provisional release of the goods on payment of duty and execution of a bond, the respondents have not permitt ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... has, in that connection, placed on record a communication dated 25th February, 2006 addressed to him by the Assistant Director of Revenue Intelligence. 6. On behalf of the petitioner, Mr. Jain, on the other hand, submitted that there was nothing illegal or objectionable about the imports made by the petitioner earlier or those which have got embroiled in the current controversy at the instance of the Revenue Intelligence people. He submitted that goods of similar kind and quality have been imported not only by the petitioner but also by a large number of other importers, the value whereof has been declared and assessed by the customs authorities between US$ 240 PMT to US$ 300 PMT. He submitted that the allegation that the actual value of ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e petitioner which can be secured only in case the petitioner is directed to deposit the duty amount and to secure the balance amount towards penalty and redemption fine suitably by way of a bank guarantee. He further stated that release of the goods should be subject to a further condition that the petitioner would not challenge the identity of the goods in the course of the adjudication proceedings as well as prosecution, if any, launched against him. 8. There is, in the light of the submissions made at the bar, no real resistance to the release of the goods. What is demanded by the respondents is deposit of the provisional duty amount and an appropriate security for the recovery of the balance amount that may be found recoverable from ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... of the apprehension of the Revenue that the amount may not be recovered fully in case the adjudication proceedings eventually uphold the provisional assessment. This would be in addition to a bond to the authorities in so far as the remainder of the amount and redemption fine and penalty is concerned. 10. To sum up, the release of the goods in question covered by twelve bills of entry tendered by the petitioner company to the authorities shall be subject to the following conditions : (1) The petitioner deposits with the authorities the customs duty payable on the value declared by him. (2) The petitioner further deposits with the authorities 20% of the differential duty between the declared value and value provisionally assessed at US ..... X X X X Extracts X X X X X X X X Extracts X X X X
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