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2020 (3) TMI 37 - AT - CustomsSmuggling - Gold - Revenue is not in a position to return the goods confiscated - levy of redemption fine - HELD THAT:- Section 125 of Customs Act, 1962 has given right to the importer to redeem the goods on payment of redemption fine. Due to action of Revenue of selling impugned goods during the period of filing appeal before learned Commissioner (Appeals) the goods are not available for redemption therefore Revenue has rendered right of appellant under Section 125 of Customs Act, 1962 as non-enforceable. Therefore the contention of learned A.R. for Revenue that redemption fine should be recovered cannot be enforced because by payment of redemption fine, Revenue is not in a position to return the impugned goods. If goods are not available for redemption on account of disposal of the same by Revenue appellant is not required to pay redemption fine and Customs duty and also eligible for refund of sale proceeds - On examination of provisions of the Section 112(b) of said Act, the penalty is reduced to ₹ 1,33,429/- - As per record the amount of sale proceeds is ₹ 38,62,524/-. I therefore in the circumstances of the matter order for payment of ₹ 38,62,524/- Minus ₹ 1,33,429/- personal penalty to the appellant by Revenue.
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