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2017 (5) TMI 1534 - Commissioner - CustomsAbsolute Confiscation - gold/gold jewellery - penalty - Held that: - There is no findings in the Order that the gold was brought for consideration as carrier - gold is not an item the import of which in any circumstances would danger or be detriment to health, welfare or morals of people as whole, and therefore is liable to be released on payment of redemption fine since it does not cause danger or detriment to health. An option given to redeem the goods on payment of fine and on payment of applicable rate of duty. As far as the quantum of fine is concerned, I find that there are various judicial pronouncements that purpose of Redemption Fine is to wipe out the margin of profit - redemption fine fixed at ₹ 1,00,000/- - penalty upheld. Appeal disposed off.
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