TaxTMI 
TaxTMI 
2012 (4) TMI 59
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....invoice No.70221, dated 19.08.2011. They filed Bill of Entry No.5526310, dated 21.12.2011 for clearance of the same for Home Consumption and declared the value of the imported goods at USD 0.400 per kilogram. Thereafter, the above Bill of Entry was forwarded to the third respondent for verification of value. On verification, the third respondent alleged that the petitioner had undervalued the goods. Consequently, the respondents withhold the goods for payment of duty of the differential value. The petitioner submits that the if the goods namely Slack Wax are not released forthwith, it will melt shortly and it will cause great prejudice to the petitioner. Further, this Court in similar situation, ordered provisional release of the goods with....
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....9.08.2011. Based on which, the petitioner had filed Bill of Entry No.5526310, dated 21.12.2011 for clearance of the same for Home Consumption. The petitioner declared the value of the goods at USD 16,904.00 totally for 42.260 Kilograms i.e. USD 0.400 Per Kilogram. Thereafter, they forwarded the Bill of Entry to the third respondent for verification of the value. However, the third respondent had alleged that the value of the goods is less and the petitioner had undervalued the goods. 6. Further, the petitioner claims that when Slack Wax is not prohibited for importing and Slack Wax was declared as freely importable goods, the value declared by the petitioner has to be accepted as correct as per the provisions of the "Customs (Provis....
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....of Rs.35.04 lakhs as determined by DRI, Tthoothukudi and bond in the form of Appendix-V for the Assessable Value of Rs.24,02,043/-. The petitioner has filed the present writ petition for the provisional release of the imported cargo of 42.260 MTs. of Slack Wax covered under the aforesaid Bill of Entry No.5526310, dated 21.12.2011 on execution of PD Bond for full value of the cargo and execution of Bank Guarantee for 20% of the differential duty between the value declared by the petitioner and value provisionally assessed (to be assessed by Customs). Hence, the contention of the petitioner that wantonly withholding the assessment and the subsequent clearance of the imported cargo is not acceptable and the investigation is yet to be completed....
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....sed in terms of this order immediately on furnishing of the aforesaid bank guarantee and satisfaction of the concerned Commissioner of Customs. We also direct the Commissioner of Customs to hear the adjudication proceedings pending before him as early as possible, preferably within a period of three months, from the date of receipt of a copy of this order. In terms of the aforesaid order, the appeal stands disposed of. We, however, make it clear that while passing the aforesaid order, we have not expressed any opinion or views on the merits of the dispute which shall be independently considered by the competent authority." 11. Similarly, in the very same recent rulings of the First Bench of this Court in W.A.No.582 of 2011, dated 0....
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....ng- "1. Short title and commencement -(1) These regulations may be called the Customs (Provisional Duty Assessment) Regulations, 2011. (2) They shall come into force on the date of their publication in the Official Gazatte. 2. Conditions for allowing provisional assessment - (1) Where- a) an importer or an exporter, as the case may be, is unable to make self- assessment under sub-section (1) of section 17 of the Customs Act, 1962 (52 of 1962) and makes a request in writing to the proper officer for assessment; or b) the proper officer on account of any of the grounds specified in sub- section (1) of Section 18 of the said Act, is not able to verify the self- assessment or make re-assessment of the duty on the imported goods or ....