2022 (8) TMI 1122

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....pondents Through: Mr Harpreet Singh, Sr Standing Counsel with Ms Suhani Mathur, Mr Jatin Gaur and Mr Akshay Saxena, Advs. [Physical Court hearing/ Hybrid hearing (as per request)] RAJIV SHAKDHER, J (ORAL): 1. The substantive prayers made in the petition read as follows: "(a) Issue a writ, order or direction in the nature of certiorari to quash and set-aside the order dated 16.07.2021 passed b....

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....ncashment of three bank guarantees furnished by the petitioner, has been declined. 3. The record shows that the petitioner had furnished the following three bank guarantees; the details concerning the same are set forth hereafter: S.No. BG Number Date of BG Amount of BG Shipping Bill No. & Date 1 6041IFIBG180002 21.03.2018 Rs.7,29,858/- 2678044 dt.06.02.2018 2 6041IFIBG180003 21.....

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....ed by a pre-deposit amounting to Rs.1,87,500/-, i.e., a sum equal to 7.5% of the total penalty imposed on the petitioner. The petitioner is mulct with penalty amounting to Rs. 25,00,000/-. 6.1. We are told that the appeal filed with the Tribunal is pending adjudication. 7. Mr Harpreet Singh, who appears on behalf of the respondents/revenue, says that since the validity of the aforementioned bank....

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....n excess of 7.5% or 10% deposited in terms of Section 35F of Central Excise Act, 1944 or Section 129E of Customs Act, 1962, shall be taken during the pendency of appeal where the party/assessee shows to the jurisdictional authorities : (i) proof of payment of stipulated amount as pre-deposit of 7.5%/10%, subject to a limit of Rs.10 crores, as the case may be; and (ii) the copy of appeal memo f....