2018 (10) TMI 1332

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....achna Gupta, Member (Judicial) For the Appellants : S/Shri Sonia Sharma and Amit Batra, Advocates For the Respondent : Shri Rakesh Kumar, Authorized Representative (DR) ORDER PER. C.L. MAHAR :- The brief facts of the case are that M/s Mishika Enterprises a proprietorship firm has imported a consignment of water filter fitting Reverse Osmosis (RO) Membrane describing the same as wate....

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....ner (SIIB) Import, ICD, Tughlakabad, New Delhi vide its letters No. VIII/ICD/10/ TKD/SIIB-Imp/Inv/mishika ent./104/2018 dated 07/08/2018 and No. VIII/ ICD/10/TKD/SIIB-Imp/Inv/Durga ent./98/2018 dated 07/08/2018 ordered the provisional release of seized goods on conditional basis. The conditions on which the seized consignment were allowed to be provisionally released are as follows :- "(a....

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....g to Rs. 1,19,68,120/- in proper format for provisional release ; (b) submission of bank guarantee of amount equal to differential duty of Rs. 12,23,459/-. The bank guarantee shall contain auto renewal clause ; (iii) submission of bank guarantee amounting to Rs. 4,00,000/- to cover redemption fine and penalty, if any that adjudicating authority may impose. The bank guarantee shal....

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....garding under valuation of import consignment which have been advanced before us by the learned DR, we feel that the condition of provisional release appears to be financially tough on the part of the appellant and since the appellant is providing a bond of full value of seized goods and as the importer is a regular importer, we feel it proper to revise the above-mentioned conditions of the provis....