2001 (12) TMI 698

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..... ent. [Order per : Gowri Shankar, Member (T)]. - The application is for waiver of deposit of duty of Rs. 6,53,200/-, Rs. 2.00 lakhs adjudged for redemption of confiscated goods, and penalty of Rs. 1.00 lakh imposed on the applicant. 2. The applicant is a medical institution, and the duty has been demanded from it on the ground that the benefit of exemption contained in Notification 64/88 w .....

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..... them vests with the Central Government as provided in Section 126 of the Act and the goods shall, therefore, continue to vest with in the Central Government, till such time as the option to redeem the goods on fine is exercised. That option has not been exercised in the case before us; that is what the representative of the applicant says. Therefore, the question of deposit of fine does not arise. .....

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