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2016 (9) TMI 522 - AT - CustomsConfiscation - gold - shortages found during stock-taking - goods not available for confiscation - fine in lieu of confiscation - recovery of customs duty - imposition of penalty - Section 111, 112A, 125 of the Customs Act, 1962 - Notification No.117/94-Cus dated 21/10/1994 - SEEPZ unit - Held that: - the decision of the Apex court in the case of Weston Components Ltd. v. CC, New Delhi [2000 (1) TMI 45 - SUPREME COURT OF INDIA] does not apply here. The confiscation always presumes availability of goods and presumption normally is that goods have been seized and thereafter the proceedings would culminate into confiscation or release. Confiscation would mean that seized goods become the property of the Government and the party to whom it is ordered to be released on payment of fine, will have to pay fine and redeem the goods. When the goods have been diverted and not released on execution of bond with conditions, the question of confiscation of the same does not arise since goods have already become someone else's property. Appeal disposed off - decided against Revenue.
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