1993 (6) TMI 90

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.... trawlers which had been confiscated. The said respondent paid the purchase price which also included an amount of Customs Duties. It was later found by the respondent that it was not liable to pay customs duty and accordingly the said respondent made an application for refund. The said application for refund was rejected by the Assistant Collector. The Collector (Appeals) dismissed the respondent's appeal. The Tribunal upheld the contention of the first respondent and directed the Customs Authorities to refund the amount of duty amounting to Rs. 6,81,923/- to the first respondent subject to their executing a personal bond of guarantee along with the surety to the effect that the three trawlers in question would not be broken up in future a....

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....led to exemption from duty? (ii) Whether in view of the fact that the parties can file a claim whose duty has been assessed by the Officers of Customs that duty was not leviable or the party is entitled to duty exemption, and that an order of assessment is required to be made by the officers of customs, and in the facts and in the circumstances of the case, the observation/finding of the Tribunal that there was no order of assessment, and the claim comes within the purview of Section 27(5) of the Customs Act, is based on a wrong interpretation of Clause 5 of Section 27 of the Customs Act (iii) Whether in view of the fact that Clause 5 of Section 27 which was inserted by Section 78 of the Finance Act, 1988 (26 of 1988) with effect from....

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....ducts Ltd. furnishes a bank guarantee in the like amount, that is Rs. 6,81,923/- to the satisfaction of the Registrar, Original Side within six weeks after such deposit, the Registrar, Original Side shall allow the respondent to withdraw the said amount to be deposited by the Customs Authorities. If no bank guarantee is furnished within six weeks, the Registrar, Original Side will invest the same in a fixed deposit for one year renewable from year to year until further order of the Reference Court in the pending reference. 6. We make it quite clear that irrespective of the result of the reference the first respondent will not be entitled to any interest from 16-1-1992 till the date of deposit by the Collector on the aforesaid amount of R....