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1994 (1) TMI 110 - CGOVT - CustomsExtract: .......ng gold by the Assistant Collector) though on a higher redemption fine of Rs. 5 lacs (Rs. Five lacs only) plus duty to be paid in foreign exchange. Similarly, VCP is also allowed to be redeemed on a redemption fine of Rs. 5,000/- (Rs. Five thousand only). Imposition of personal penalty of Rs. 50,000/- is, however, upheld. It is ordered accordingly.
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