Customs, Excise and Gold Tribunal - Calcutta
Techno Marketting vs Commissioner Of Customs (Port), ... on 18 October, 2001
JUDGMENT
Archana Wadhwa
1. The prayer in the stay petition is for dispensing with the condition of predeposit of duty amount of Rs. 10,13,945.00 (Rupees ten lakh thirteen thousand nine hundred forty five) and penalty amount of Rs. 50,000/- (rupees fifty thousand).
2. Shri Sudhir Mehta, ld. adv. appearing for the appellant submits that the disputed issue is an regards the valuation of the speakers imported by the appellant. He clarifies that about 75% of the consignment has already been cleared by the customs authorities and the balance 25% is lying with the customs. The adjudicating authority has given an option to the appellant to redeem the said goods on payment of redemption fine of Rs. 25,000/- (rupees twenty five thousand) and on payment of duty at the enhanced assessable value. He submits that the value of the goods lying with the customs authorities is around 7,00,000/- (rupees seven lakh) (approx.) and the duty involved in respect of the same is to the tune of around Rs. 4,25,000/- (rupees four lakh twenty five thousand). He undertakes not to release the said goods during the pendency of the appeal before the Tribunal and prays for allowing the stay petition inasmuch as sufficient security in the share of confiscated goods is lying with the Revenue.
3. Shri D.K. Bhowmik, ld. JDR appears for the Revenue.
4. In view of the above fact and the undertaking given by the appellant that the confiscated goods would not be redeemed by the appellant during the pendency of the appeal we allow the stay petition and fix the main appeal on 5.11.2001.
Dictated in the Court.