Home Case Index All Cases Customs Customs + HC Customs - 2023 (12) TMI HC This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2023 (12) TMI 266 - DELHI HIGH COURTPermission to redeem the confiscated gold subject to payment of redemption fine - HELD THAT:- The Impugned Order proceeds on the premise that gold as a commodity would not fall within the ambit of “prohibited goods” as defined under Section 2(33) of the Customs Act, 1962. Dealing with an identical question, a Division Bench of this Court in NIDHI KAPOOR, SUPRIYA, SUDHA MURTHY, MR. JASMEET SINGH CHADHA AND MS. SHANAZ MALIK VERSUS PRINCIPAL COMMISSIONER AND ADDITIONAL SECRETARY TO THE GOVERNMENT OF INDIA & ORS., JT COMMISSIONER OF CUSTOMS, IGI AIRPORT T-3 DELHI, COMMISSIONER OF CUSTOMS, IGI AIRPORT, NEW DELHI, UNION OF INDIA [2023 (8) TMI 1008 - DELHI HIGH COURT] had held that It is the FTP formulated in terms of Section 5 of the FTDR which makes the import of gold subject to RBI regulation. This stipulation thus clearly evidences the intent of the Union Government to confer RBI with the authority to formulate regulatory provisions in relation to the import of gold. Since this power stands bestowed upon the RBI by the Union Government and forms an integral part of the FTP itself, one need not look for or undertake an expedition to discern a power independently vested in the RBI to issue appropriate directives and circulars regulating the import of gold. In view of the conclusions as recorded in Nidhi Kapoor, the order impugned cannot be sustained - petition allowed.
|