2019 (2) TMI 976

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....nd studded jewellery valued at Rs. 3,20,96,437 belonging to M/s Choksi Vachhraj Makanji & Co. on such terms and conditions, as may be deemed fit by this court. The applicant also seeks stay of recovery of penalties imposed on M/s D. Jewel and M/s Choksi Vachhraj Makanji & Co. during the pendency of the tax appeal. 3. By an order dated 22.11.2018, the appeal has been admitted by framing substantial questions of law. 4. The applicants M/s D. Jewel and M/s Choksi Vachhraj Makanji & Co. are the original appellants who have challenged the order dated 11.10.2018 passed by the Customs, Excise and Service Tax Appellate Tribunal in Appeal No.C/10113 to 10200/2018, whereby the appeals filed by the applicants against the Order-in-Original dated ....

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....te confiscation of the gold cannot be interfered with by the Tribunal. Following the said case, which according to the Tribunal was identical to the present case, the Tribunal did not deem it necessary to interfere. The attention of the court was invited to the order dated 15.09.2017 passed by the Tribunal in the case of Dharmesh Pansuriya (supra) wherein the Tribunal has held thus: "However, on the issue of considering the quantum of redemption fine imposed by the adjudicating authority, we find substance in the contention of the Revenue inasmuch as, wiping out of profit cannot always be the yardstick invariably in all the circumstances in fixing the quantum of fine; also in the present case, there has been no data to support the ....

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....ya, the court may order release of the seized goods on such terms and conditions as may be deemed fit. 6. On the other hand Mr. Viral K Shah, learned senior standing counsel for the respondents submitted that in case of Dharmesh Pansuriya, it was the revenue which was in appeal, despite which the court had directed the assessee to furnish a bank guarantee in addition to the redemption fine imposed by the Tribunal; therefore, if at all the court is inclined to direct release of the confiscated goods, this factor may be kept in mind. 7. The applicants seek release of the confiscated goods subject to the reasonable conditions as well as stay of penalty. From the impugned order of the Tribunal, it is apparent that the case of Dharmesh Pan....