D. JEWEL Vs. COMMISSIONER OF CUSTOMS

JUDGEMENT

(1.) Rule. Mr. Viral Shah, learned senior standing counsel waives service of notice of rule on behalf of the respondent.

(2.) By this application, the applicant seeks release of the confiscated gold bars and diamonds/precious stones/moti (pearls) valued at Rs.2,70,12,710/- and also confiscated gold and studded jewellery valued at Rs.3,20,96,437 belonging to M/s Choksi Vachhraj Makanji and Co. on such terms and conditions, as may be deemed fit by this court. The applicant also seeks stay of recovery of penalties imposed on M/s D. Jewel and M/s Choksi Vachhraj Makanji and Co. during the pendency of the tax appeal.

(3.) By an order dated 22.11.2018, the appeal has been admitted by framing substantial questions of law.