2026 (8) TMI 815

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....lementation of the Final Order A/86115/2025 dated July 21, 2025 passed by the Customs, Excise and Service Tax Appellate Tribunal ("CESTAT"). 2. We have heard the learned Counsel appearing on behalf of the Appellant as well as the learned Senior Counsel appearing on behalf of the Respondent at considerable length. 3. Mr. Ram Ochani, the learned Counsel for the Appellant, submitted that the Tribunal has committed an error in extending the benefit of the exemption notification to the Respondent, and that unless the operation of the impugned order is stayed, serious prejudice would be caused to the Revenue. It was further submitted that, in view of Writ Petition No. 1314 of 2026 instituted by the Respondent seeking clearance of future con....

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.... statutory security requirements for future trade. He further submitted that now this Court has judicially examined the matter and admitted the Department's Appeal. This admission confirms that a "substantial question of law" actively exists, completely resetting the equities between the parties. It was his further submission that future clearances are governed strictly by the statutory provisions of the Act (e.g., Section 18 for provisional assessment or Section 110A for provisional release under the Customs Act, 1962). For all these reasons, Mr. Ochani submitted that the impugned order be stayed. 5. Per contra, Mr. Rohan Shah, the learned Senior Counsel appearing for the Respondent, submitted that no irreparable prejudice would be ....