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2017 (4) TMI 139 - BOMBAY HIGH COURTCurrency - whether the seized goods being currency, can be allowed to be released on payment of a fine - Held that: - When the power of redemption is exercised, what the law postulates is that there is an option to pay fine in lieu of confiscation. Section 125(1) of the CA, 1962 provides that whenever confiscation of any goods is authorised by this Act, the officer adjudicating it may, in the case of any goods, the importation or exportation whereof is prohibited under this Act or under any other law for the time being in force, and shall, in the case of any other goods, give to the owner of the goods or where such owner is not known, the person from whose possession or custody such goods have been seized, an option to pay, in lieu of confiscation, such fine as the said officer thinks fit - we do not find that there was any error or lack of power - appeal dismissed - decided against Revenue.
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