TaxTMI 
TaxTMI 
2025 (10) TMI 510
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.... and 3 of the said impugned Provisional Release order dated 16.07.2025, for the purpose of granting provisional release of the seized goods covered under Bill of Entry No.7830692 dated 17.01.2025 and consequently to modify the above said condition for the purpose of provisional release of the said goods. 2. The petitioner had imported goods which are 'PVC Coated Fabric' vide the subject bill of entry and the goods were moved to the Special Economic Zone unit situated at Ponneri Taluk, Chennai. The petitioner had approached the respondents for clearance of the goods from the Special Economic Zone unit. The petitioner was informed that the DRI officials have initiated investigation and only after obtaining the test report, a decisi....
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....an be applied to the petitioner also and the petitioner will abide by the same. 5. The learned Senior Panel Counsel appearing on behalf of the respondents vehemently opposed the relief sought for by the petitioner, on the ground that the authority has re-determined the value of the goods to the tune of Rs. 40,00,000/- and if at all the petitioner wants the release of the goods, the petitioner has to either pay the re-determined duty for the re-determined value or furnish a bank guarantee as has been directed by the second respondent to the tune of Rs. 12,00,000/-. The learned counsel therefore submitted that the impugned provisional release order that has been put to challenge in the present writ petition does not warrant the interferenc....
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....osed and the said writ petition was disposed of by this Court in the following terms: "8 I.n the light of the above discussions, the Writ Petition is disposed of with the following directions: (i) The petitioner is directed to remit the entire duty as assessed by them; (ii) The petitioner is directed to pay 50% of the differential duty which has been arrived at by the Department as Rs. 22.72 lakhs; (iii) The petitioner is directed to execute a bond for the remaining amount to the satisfaction of the respondents. (iv) The petitioner shall execute an indemnity bond stating that in the event of Shri. S. Ariya raising any claim over the goods or concerning the use of IEC code issued in favour of M/s.....
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....mpliance of the execution of the bond for the amount mentioned in conditions (a) and (b) supra and payment of duty as mentioned in condition (c), the Revenue shall permit provisional release of the cargo within seven (7) days therefrom, which shall be subject to the result of the adjudication of the show-cause notice." 14. In the case in hand, the goods that are involved are Viscose Knitted Fabric, which according to the Department has been misclassified and undervalued. Therefore, the Department is proceeding further with the adjudication proceedings. Pending the same, the impugned provisional release order has been passed. 15. The conditions that have been imposed in the provisional release order are as follows: ....