https://www.taxtmi.com/caselaws?id=445181 CESTAT Chennai allowed provisional release of seized crude gold bullion from appellant's premises. Gold was allegedly procured from importers who diverted imported gold contrary to import conditions. Despite appellant's claims of licit origin and proper documentation, adjudication remained pending for over 18 months. Following Delhi HC precedent, tribunal ordered release upon furnishing bond for full value plus bank guarantee with auto-renewal clause for 30% of goods' value. Appellant must maintain premises open for revenue inspection and account for all gold utilization/sales. Impugned order set aside and appeal disposed. en-us Tue, 31 Oct 2023 00:00:00 +0530 Tue, 06 Feb 2024 12:38:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=445181 CESTAT Chennai allowed provisional release of seized crude gold bullion from appellant's premises. Gold was allegedly procured from importers who diverted imported gold contrary to import conditions. Despite appellant's claims of licit origin and proper documentation, adjudication remained pending for over 18 months. Following Delhi HC precedent, tribunal ordered release upon furnishing bond for full value plus bank guarantee with auto-renewal clause for 30% of goods' value. Appellant must maintain premises open for revenue inspection and account for all gold utilization/sales. Impugned order set aside and appeal disposed. Case-Laws Customs Tue, 31 Oct 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=445181