2019 (8) TMI 1541

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.... of impugned goods as per Annexure 'A' of seizure memo dated 28 January 2019 vide F.No.DRI/HQ-CR/50d/Enquiry/19/INT. The Commissioner has accorded permission for release of the seized goods on the following conditions:- "a. Submission of Provisional Duty Bond for re-determined value of the goods, seized by DRI, Delhi, i.e. Rs. 7,20,27,903/- (Rs. Seven Crore Twoenty Lakh Twenty Seven Thousand Nine Hundred Three Only). b. Submission of Bank Guarantee for estimated differential duty amount, i.e. Rs. 1,06,02,723/-. c. Submission of Bank Guarantee for 10% of the redetermined value (ascertained determined value being Rs. 7,20,27,903/-). d. Submission of Bank Guarantee for 10% of the estimated differential duty amount (ascertained estimate....

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....alue declared by the appellant, even as of now and therefore, the demand of bank guarantee of such a huge amount is nothing, but an abuse of the process of law. (c) That the appellant is entitled for release of goods without any bank guarantee on the ground that no transaction value for higher amount has been brought on record. (d) That learned Commissioner has not given any opportunity of hearing inspite of direction by Hon'ble High Court. (e) That the value declared by the appellant is correct and should have been accepted without insisting for any bank guarantee. 5. Learned Authorized Representative for the Respondent Revenue, however, supports the impugned order and submits that the provisional release of the goods has been done ....