2016 (3) TMI 842

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....nal Commissioner (AR) ORDER Per M V Ravindran This application is filed by the applicant for seeking indulgence Tribunal for stay of encashment of bank guarantee No. 050PG014 dated 07/10/2015 which was executed and is in force as of today. 2. Learned counsel appearing for the applicant submits that the applicant is the owner of the vessel which was seized by the department in the year 2005. Th....

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....t the reason for moving this application urgently, is that, their banker received a letter from the Asstt. Commissioner of Customs (Preventive), Revenue Recovery Cell, office of Principal Commissioner of Customs (Preventive),Mumbai for encashment of bank guarantee. It is his submission that the applicant had not received any copy of the letter from the department. He would submit that since the ap....

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....nt of redemption fine. In our considered view, applicant has not made out any case for exercising our inherent power, as the option which was extended to him for payment of redemption fine in lieu of confiscation should have exercised by him when the order-in-original was passed. Secondly, the applicant has been using this vessel from 2005 onwards, which was not detained by the departmental author....