KESORAM REYON (A UNIT OFM/S KESORAM INDUSTRIES LTD.) vs THE COLLECTOR OF CUSTOMS,CALCUTTA

The Supreme Court addressed the issue of customs duty levied on goods remaining in a bonded warehouse beyond the permitted period under Section 61(1)(b) and Section 72(1) of the Customs Act, 1962. The Court held that the appellants were liable to pay customs duty and countervailing duty for the goods that exceeded the warehousing period, clarifying that the demand notice issued was valid. The appeal was dismissed, affirming the decision of the Customs, Excise & Gold (Control) Appellate Tribunal.