CENTURY KNITTERS (INDIA) LTD Vs. UNION OF INDIA

JUDGEMENT

(1.) Written submissions on behalf of Respondents No. 1, 2 and 4 filed along with the application are taken on record subject to all just exceptions.

(2.) Learned counsel for the petitioners with reference to return of Rs. 10 Crores submitted that respondent No. 2 Directorate of Revenue Intelligence (for short 'the DRI') had got this amount forcibly under coercion deposited on 26th April, 2012 and this amount is liable to be returned as there is no existing liability outstanding against the petitioners. It was further submitted that only one show cause notice has been issued with respect to the consignment which was lying at Inland Container Depot, New Delhi for which the maximum liability for about Rs. 50 lacs could be fastened and, in such a situation, retention of Rs. 10 Crores was unjustified.

(3.) Reliance was placed upon the following observations of the Division Bench of this Court in Bhagwati International v. Union of India, 2005 190 ELT 300 (P & H):--