https://www.taxtmi.com/caselaws?id=398150 The Court upheld the Customs, Excise and Service Tax Appellate Tribunal's decision to reduce the Bank guarantee from 60% to 7.5% of duty liability for provisional release of seized goods. It found no malafide intention by the importer and directed Customs authorities to expedite the case. The Court dismissed the Revenue's appeal, affirming the Tribunal's exercise of discretion in reducing the Bank guarantee and deeming the appeal technically infructuous due to the finalization of the case by the Commissioner of Customs. Substantial legal questions on Bank Guarantee and jurisdiction were left open for future proceedings. en-us Mon, 31 Aug 2020 00:00:00 +0530 Sat, 06 Feb 2021 14:34:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=398150 The Court upheld the Customs, Excise and Service Tax Appellate Tribunal's decision to reduce the Bank guarantee from 60% to 7.5% of duty liability for provisional release of seized goods. It found no malafide intention by the importer and directed Customs authorities to expedite the case. The Court dismissed the Revenue's appeal, affirming the Tribunal's exercise of discretion in reducing the Bank guarantee and deeming the appeal technically infructuous due to the finalization of the case by the Commissioner of Customs. Substantial legal questions on Bank Guarantee and jurisdiction were left open for future proceedings. Case-Laws Customs Mon, 31 Aug 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=398150