2000 (9) TMI 110

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....These are seven petitions praying for stay of operation of the order passed by the Commissioner of Customs, Inland Container Depot, Tughlakabad, New Delhi. Since all the appeals arise out of the same order, we are disposing of these stay petitions by this common order. We heard the learned Counsel representing the appellants and the learned Departmental Representative. 2. M/s. Hindustan Overseas ....

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..... Consequently, the adjudicating authority ordered confiscation of the goods namely, 269.790 MTs of Zinc Ingots imported giving option to redeem it on payment of fine of Rs. 25 lacs. The value of the goods was determined at Rs. 1,26,14,183/-, on which duty was assessed at Rs. 76,51,763. Out of this amount, a sum of Rs. 31,64,910/- was paid by the assessee on account of the assessing officer enhanc....

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....imposed penalties of Rs. 2,00,000, Rs. 50,000 and Rs. 50,000 respectively. 3. It is the admitted case of the party that the goods concerned in these appeals are still under the control of the customs authorities. Since those goods have not been released, as per Section 129E of the Act we do not find any justification to direct the appellants to deposit duty and interest demanded in the order impu....