2014 (5) TMI 711

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....and same was permitted to them under Section 60 of the Customs Act, 1962. After expiry of the bonded period, the appellant did not apply for extension of time for warehousing the goods immediately but later on they applied for extension of time, which was granted to them subject to the penalty under Section 117 of the Customs Act, 1962 for violation of provisions of Section 61 (ibid). Aggrieved from the said order, appellant is before me. 3. Shri Brijesh Pathak, ld. counsel for the appellant appeared and submitted that there is no time limit prescribed under Section 61 of the Customs Act, 1962 for extension of warehousing period. In fact as per Section 61 (ibid) assessee can apply for extension of time and in peculiar circumstances ....

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....ng the deposit of the goods in a warehouse : Provided that - (i)      in the case of any goods which are not likely to deteriorate, the period specified in clause (a) or clause (aa) or clause (b) may, on sufficient cause being shown, be extended - (A)    in the case of such goods intended for use in any hundred per cent. export-oriented undertaking, by the Commissioner of Customs, for such period as he may deem fit; and (B)     in any other case, by the Commissioner of Customs, for a period not exceeding six months and by the Chief Commissioner of Customs for such further period as he may deem fit; (ii)     in the case of any goods referred to in ....

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.... with the provisions of section 15 on the warehoused goods, for the period from the expiry of the said ninety days till the date of payment of duty on the warehoused goods : Provided that the Board may, if it considers it necessary so to do in the public interest, by order and under circumstances of an exceptional nature, to be specified in such order, waive the whole or part of any interest payable under this section in respect of any warehoused goods: Provided further that the Board may, if it is satisfied that it is necessary so to do in the public interest, by notification in the Official Gazette, specify the class of goods in respect of which no interest shall be charged under this section. Explanation. - For the purposes of t....