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2010 (3) TMI 430 - AT - CustomsConfiscation- show cause notice was issued which culminated into adjudication order whereby the demand for customs duty on the shortage of gold noticed was confirmed; confiscation of seized diamonds was ordered and an amount of Rs. 10 Lakhs deposited was adjusted towards redemption fine and penalty of Rs. 10 Lakhs was imposed on DJ and penalty of Rs. 5 lakhs was imposed on Shri P.K. Jain, Managing Director. Held that- EXIM Policy violated and goods liable to confiscation. Quoting of section 111(d) of custom act, wrongly not fatal and impugned goods rightly confiscated.
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