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2008 (2) TMI 160 - CESTAT, MUMBAIFixation of the quantum of redemption fine in respect of confiscated goods Sandalwood oil - it is clear that fine in lieu of confiscation cannot exceed the market price - goods were seized in September, 2003, assessee has stated that she would not be able to get Rs. 7-8 lakhs and further the value of the goods had depreciated - no finding as to why the market value of goods as claimed by appellant is incorrect – redemption fine reduced to 50,000 instead of 5 lac
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