PANKAJ BANSAL Vs. COMMISSIONER OF CUSTOMS (IMPORT)

JUDGEMENT

(1.) During the pendency of the present petition, the Customs and Central Excise Settlement Commission ('Settlement Commission') has passed an order on 24th February, 2016 in the Settlement Application filed by the petitioner herein.

(2.) The Settlement Commission has settled the differential Customs duty at Rs. 8,33,466/-. An equivalent amount has been ordered to be appropriated out of the amount of Rs. 10 lakhs deposited by the applicant. A penalty of Rs. 15,000/- on the firm and Rs. 10,000/- on the applicant and Rs. 35,000/- as fine in lieu of confiscation of the goods have been ordered. It has further been directed that after adjustment of the duty, penalty and redemption fine, the balance amount from the deposit of Rs. 10 lakhs is to be refunded to the applicant within 15 days.

(3.) According to learned counsel for the petitioner, there is no challenge to the above order dated 24th February, 2016 till date. She adds that notwithstanding the above order of the Settlement Commission, the goods in question are yet to be released to the petitioner.