SHRENO LIMITED Vs. UNION OF INDIA

JUDGEMENT

(1.) The petitioner has challenged the communication dated 17.12.2014 issued by the Commissioner of Customs under which the petitioner's request for permission to sell an aircraft being Lear Jet 45 bearing Registration No.VT -CRA, MSNO19 came to be refused.

(2.) The petitioner had imported such aircraft under concessional rate of duty. Customs authorities formed a belief that the valuation declared by the petitioner at the time of import was not accurate and further that the petitioner had breached the condition on which the concessional rate of duty was applied. Authority, therefore, issued a show cause notice dated 22nd July, 2010 calling upon the petitioner to show cause why the aircraft should not be confiscated, valuation of Rs.31.37 crores (rounded off), showed by the petitioner should not be substituted by Rs.37.99 Crores (rounded off) and the Customs duty of Rs.8.78 Crores (rounded off) with interest and penalty be not recovered.

(3.) Pending such adjudication of such show cause notice, under a bond of Rs.30 Crores, the aircraft has been released. The petitioner now desires to sell off the same but on account of pending show cause notice proceedings, the authorities refused to grant permission. The petitioner has thereupon filed this petition.