TaxTMI 
TaxTMI 
2016 (9) TMI 75
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....i H. K. Thakur This is an appeal filed by the Revenue against OIO No. Kol/CUS/PORT/16/2007 dt 28/2/2007 passed by CC (Port), Kolkata-01 as Adjudicating authority. 2. Sh. S. K. Naskar AC (AR) appearing on behalf of the Revenue argued that adjudicating authority has not ordered confiscation of the goods under Sec 125 of the Customs Act 1962 on the grounds that imported goods are not available for ....
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.... exporter has something at stake. In the case of imports / export the stake are goods. In the absence of goods theoretically even if redemption fine is imposed then an importer / exporter can take a stand that he is not interested in what has been confiscated. However, if the goods are released subject to an ITC bond and or bank guarantee then these instruments executed by the importer / exporter ....
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....t executing a bond. Under these circumstances if subsequently it is found that the import was not valid or that there was any other irregularity which would entitle the customs authorities to confiscate the said goods, then the mere fact that the goods were released on the bond being executed, would not take away the power of the customs authorities to levy redemption fine." 4.1. It is evident fr....