2016 (9) TMI 621

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....i, Advocate for the respondents ORDER Rajesh Bindal J. The revenue has filed the present appeal against the order dated 2.6.2006, passed by the Customs, Excise and Service Tax Appellate Tribunal, New Delhi, which was admitted on 2.7.2007 for consideration of the following substantial questions of law: "(a) Whether the subject goods could be confiscated under Section 111(o) of the Customs Act,....

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....less any contrary provisions/ explanation/ condition has been made under such notification in terms of sub-section (2A) of Section 25 of the Customs Act, 1962 ?" Learned counsel for the respondents submitted that assets of the respondent-company were taken over by the financial institution and have been sold, however, the sale is under challenge. In fact, the respondent-company is lying closed. ....