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2017 (9) TMI 1454 - AT - CustomsAbsolute confiscation - prohibited goods - gold bars coming out of the SEZ - section 125 of CA, 1962 - option to pay redemption fine - Held that: - even if the goods in question are considered as prohibited goods as defined under the Customs Act, the adjudicating authority may consider imposition of fine and need not invariably direct absolute confiscation of the goods. - In these premises, thus to consider the issue raised at the bar that whether the gold bars removed from the Unit in SEZ with out permission and contrary to the Circulars issued by RBI and Customs, became prohibited goods, or otherwise, in our view, becomes more an academic exercise and hence need not be resorted to. On the issue of considering the quantum of redemption fine imposed by the adjudicating authority, we find substance in the contention of the Revenue inasmuch as, wiping out of profit cannot always be the yardstick invariably in all the circumstances in fixing the quantum of fine; also in the present case there has been no data to support the finding that the margin of profit from such illicit transaction of removal of goods from the authorised SEZ operation to the local market would be 3 to 4% in the Respondent's case - quantum of redemption fine and penalty upheld. Appeal allowed.
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