2006 (2) TMI 354

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....spondent. [Order]. - The applicant had imported a car, clearance of which was allowed under Bill of Entry dated 21-1-1998 on the basis of the importer's declaration and the documents filed with the Bill of Entry. The Department instituted an investigation into this import and, on the basis of its results, issued a show cause notice to the applicant proposing to confiscate the car under Secti....

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....tial relief as per law. 2. The applicant had obtained release of the car (which had been seized by the investigators of the Department) on production of a bank guarantee for a sum of Rs. 4,92,855/- (being the assessable value of the vehicle) on the strength of an order of the Hon'ble High Court. The Department encashed the bank guarantee on 15-7-2002, i.e., prior to institution of the capt....