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2015 (1) TMI 261 - AT - CustomsClaim of sale proceeds since since the confiscated goods were sold through e-auction by the department - confiscated goods were not redeemed by the appellant despite an option was given - Held that:- Goods were confiscated by Commissioner of Customs on 05.5.2003 and option was given to the appellant to redeem the same on payment of Redemption fine of ₹ 20 Lakh within 15 days. The redemption fine so imposed by the adjudicating authority was reduced to ₹ 7.5 Lakh as a result of CESTAT's order. In spite of the above modification, appellant did not redeem the goods. Auction of the goods was done after 07.10.2006 after giving a notice to the appellants. The goods confiscated by the Adjudicating authority were not redeemed, within the stipulated time either after Adjudication order or its modification by CESTAT. As per Section 126 of the Customs Act, 1962, the title of the confiscated goods vests with the Central Government and appellant had no claim on such goods and its sale proceeds - Appellant could have a valid claim on the remaining sale proceeds only if he had contested the confiscation of goods in appeal to higher courts and got a favourable verdict. In the absence of any such contest and also not taking redemption of the goods, appellant has no case and the order passed by the first appellate authority is required to be upheld. - Decided against assesse.
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