https://www.taxtmi.com/caselaws?id=386401 Provisional release of export goods suspected of misdeclaration or overvaluation may be made subject to a bond and appropriate security to protect revenue interests. The customs circulars allow release on execution of a bond for the value of the goods together with security covering redemption fine and penalty, and the court treated a bank guarantee as a reasonable safeguard on the facts. The challenge to the additional bank guarantee condition therefore failed, while the merits of the alleged misclassification, overvaluation, and higher refund claim were left for adjudication. The request to substitute immovable property security was left open for consideration by the authority. en-us Tue, 24 Sep 2019 00:00:00 +0530 Sat, 11 Jan 2020 11:35:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=386401 Provisional release of export goods suspected of misdeclaration or overvaluation may be made subject to a bond and appropriate security to protect revenue interests. The customs circulars allow release on execution of a bond for the value of the goods together with security covering redemption fine and penalty, and the court treated a bank guarantee as a reasonable safeguard on the facts. The challenge to the additional bank guarantee condition therefore failed, while the merits of the alleged misclassification, overvaluation, and higher refund claim were left for adjudication. The request to substitute immovable property security was left open for consideration by the authority. Case-Laws Customs Tue, 24 Sep 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=386401