TaxTMI 
TaxTMI 
2018 (8) TMI 257
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....which is very harsh and drastic, difficult to be complied with. 2. To resolve the controversy before us, it is worthwhile to appreciate the facts and circumstances of the case, which related to import of consignment of HOP extract vide Bill of Entry No. 5252339 dated 13.5.2016. On the basis of information that the declared price of the consignment is not in conformity with the contemporary price of the item imported, the customs seized the imported consignment vide Panchnama dated 10.8.2016. It is also worthwhile to mention that the importer has filed the Bill of Entry in respect of the imported consignment on 13.5.2016 on first check basis. However, the consignment remained pending clearance by the Customs department consequently the same....
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....line Tradex Pvt. Ltd. Vs. CC (Import) - 2016 (340) ELT 174 (Del.); (4) Final Order No. C/A/70628/2016-Cus.(DB) dated 5.8.2016 in case of M/s Ratan Aluminium Recycling Pvt. Ltd. Vs. CC, Noida. All these cases are pertaining to the provisional release of the seized goods under Section 110A of the Customs Act, 1962. To resolve the issue at hand, it is worthwhile to mention para 9 of the decision in case of Navshakti Industries Pvt. Ltd. (supra), which is reproduced as under: "9. Having heard learned counsel for the parties and having perused the decision relied upon by learned counsel for the Appellants, we are of the view that in the absence of any definite parameters having been laid down for the exercise of power by the Respondents und....
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.... be levied in lieu of confiscation under Section 125 of the Customs Act, 1962 at the time of adjudication of the case. While securing the same, the competent authority shall take into account the nature of the seized goods, the duty and charges payable on the said goods, their market price and the estimated margin of profit; iii. amount of penalties that may be levied under the Customs Act, 1962, as applicable, at the time of adjudication of the case. 2.3. Depending on the specific nature of a case, the competent authority may, for reasons to be recorded in writing, increase or decrease the amount of security deposit as indicated above." 7. After hearing the ld. Counsel from both the sides and after perusal of the appeal record, this is....