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1998 (7) TMI 687 - AT - CustomsExtract: ......., find that the fine in lieu of confiscation fixed at ₹ 3 lakhs calls for reduction as also the penalty. Hence, while upholding the confiscation, we reduce the fine in lieu of confiscation to ₹ 1 lakh and the penalty to ₹ 25,000/-. The impugned order is modified to this extent but is upheld otherwise. The appeal is partly allowed.
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