TaxTMI 
TaxTMI 
2017 (7) TMI 472
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....lant. 3. Heard the learned AR and perused the records. 4. The relevant facts that arise for consideration in this appeal is one M/s. Koratla Textiles India Ltd. (hereinafter referred to as KTL) were a 100% EOCJ having customs private bonded warehouse licence for manufacture and export of terry towels. As permitted by the Government of India, KTL imported and warehoused plant and machinery without payment of customs duty by availing benefit of exemption Notification No.13/81-Cus dt. 09/02/1981 and has also procured indigenous material without payment of Central Excise duty. The export performance of KTL was reviewed and as they did not fulfil the export obligation and there was a short-fall, show cause notice was issued by the Development ....
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....s cannot restrain M/s. Vijayalaxmi Enterprises from taking possession and lifting the machineries purchased in auction proceedings. At the same time, their lordships specifically noted in the said writ petition as regards the dues to the Central Government which we reproduce below:- 12. In view of the afore mentioned binding precedents, we are of the opinion that the respondents 3 and 4 cannot restrain the petitioner from lifting the property. We, however, do not want to go into the question as regards the liability of the loanee vis-a-vis the State Financial Corporation, as the said question does not arise for consideration in this case. However, having regard to the commitment made by the State Financial Corporation in the sale confirm....