Petitioner allowed conditional re-export of misclassified imported cotton knitted fabrics upon bond for differential duty and 20% bank guarantee

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....The HC allowed the writ petition in respect of detained imported cotton knitted fabrics, concluding that adjudication will culminate in the petitioner being liable to pay differential customs duty and applicable penalty, and retention of goods in India is not requisite. Relying on prior HC jurisprudence, the court permitted conditional re-export of the misclassified goods (as per CRCL test and resultant re-determined CTH), subject to the petitioner executing a bond for the total amount of differential duty and furnishing a bank guarantee equal to 20% of the re-determined value. Upon compliance with these conditions the petitioner may re-export; the writ petition is disposed of.....