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2018 (4) TMI 1651 - CGOVT - CustomsQuantum of redemption fine and penalty - Smuggling or not - Gold - case of applicant is that they had brought the gold for self-use only from Abu Dhabi without any concealment - Held that:- The applicant does not dispute the Commissioner (Appeals)’s order regarding confiscation of the gold which were brought by him illegally from Abu Dhabi in violation of Customs Act and the Foreign Trade (Development and Regulation) Act, 1992 - As regards redemption fine and penalty imposed by the Commissioner (Appeals) in his order, the applicant has not advanced any convincing reason for reduction of fine and penalty and it is merely stated that redemption fine should not be more than the margin of profit. However, the Government does not agree with this contention as the redemption fine is in lieu of the value of confiscated goods which is vested with Government on confiscation of goods and, therefore, value of the confiscated goods is relevant for determination of redemption fine and not the margin of profit. The revision application is rejected.
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