Reassessment under s.148A held valid; s.69 additions totaling Rs.7,00,000 deleted after acceptable contemporaneous explanations for property investmen...
Adjudication set aside; Rule 9 valuation based on internet engineer report quashed for Rule 3(4) non-compliance; Section 138B cross-examination requir...
The HC dismissed the challenge to the intimation letter but modified its conditions for provisional release. The petitioner must remit the declared duty and pay 50% of the differential duty computed by the Department (total re-determined value Rs. 3,15,01,438; differential duty Rs. 1,43,21,357). The petitioner is ordered to execute a bond for Rs. 3,15,01,438 and an additional bond of Rs. 2,80,00,000 in lieu of a bank guarantee. On compliance with these conditions, the respondents shall release the goods within seven days. The adjudication proceedings under Section 110A of the Customs Act, 1962 remain pending. Petition disposed.
The HC dismissed the challenge to the intimation letter but modified its conditions for provisional release. The petitioner must remit the declared duty and pay 50% of the differential duty computed by the Department (total re-determined value Rs. 3,15,01,438; differential duty Rs. 1,43,21,357). The petitioner is ordered to execute a bond for Rs. 3,15,01,438 and an additional bond of Rs. 2,80,00,000 in lieu of a bank guarantee. On compliance with these conditions, the respondents shall release the goods within seven days. The adjudication proceedings under Section 110A of the Customs Act, 1962 remain pending. Petition disposed.
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