2006 (4) TMI 268

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....nt. Shri A.K. Roy, Jt. CDR, for the Respondent. [Order per : Justice R.K. Abichandani, President]. - The appellant challenges the order of the Commissioner holding that the exemption granted to the appellant was not available because the appellant had failed to fulfil the condition of exemption notification and the terms of the bond executed in compliance of the terms of the notification ....

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....by them duty free, the appellant was called upon to pay the amount of Rs. 28,73,236/- leviable on the missing periscopes on the ground that the appellant had not fulfilled their obligation. 4. It was contended by the learned counsel on behalf of the appellant that there was a calculation error in demanding a sum of Rs. 28,73,236/- because the duty on the value of the goods stolen was deman....

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....e and not in a narrow sense and that it postulated loss or destruction caused by whatsoever reason, whether theft, fire, accident including pilferage. 5. The learned authorized representative for the department submitted that the demand for Rs. 28,73,236/- was correctly made in view of the bond and the undertaking given by the appellant, and therefore, there was no valid reason to reduce t....