https://www.taxtmi.com/caselaws?id=270129 The High Court directed the reconsideration of a petitioner's request to sell an aircraft imported under a concessional rate of duty. The Court required the petitioner to provide additional bank guarantees based on the excess sale value of the aircraft over Rs. 10 crores, with the remaining amount up to Rs. 20 crores to be secured through bank or corporate guarantees as directed by the Commissioner. The petitioner was instructed to comply with the modified conditions, including maintaining existing guarantees until the conclusion of show cause proceedings. The Court disposed of the petition with these directions, allowing direct service. en-us Wed, 02 Dec 2015 00:00:00 +0530 Tue, 29 Dec 2015 19:16:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=270129 The High Court directed the reconsideration of a petitioner's request to sell an aircraft imported under a concessional rate of duty. The Court required the petitioner to provide additional bank guarantees based on the excess sale value of the aircraft over Rs. 10 crores, with the remaining amount up to Rs. 20 crores to be secured through bank or corporate guarantees as directed by the Commissioner. The petitioner was instructed to comply with the modified conditions, including maintaining existing guarantees until the conclusion of show cause proceedings. The Court disposed of the petition with these directions, allowing direct service. Case-Laws Customs Wed, 02 Dec 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=270129