TMI Blog2016 (4) TMI 682X X X X Extracts X X X X X X X X Extracts X X X X ..... , Bombay Vs. Elephanta Oil and Industries Ltd. [2003 (1) TMI 108 - SUPREME COURT OF INDIA] and followed by Hon'ble High Court of Madras in the case of Chennai Marine Trading (P) Ltd. Vs. Commissioner of Customs (Seaport - Import), Chennai [2014 (9) TMI 326 - Madras High Court], the appellant is directed to deposit ₹ 50,000/- towards redemption fine and entire amount of penalty and make praye ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... penalty of Rs. One lakhs under section 112(a)(i) of Customs Act, 1962. But prayer of learned counsel is that re-export having been ordered by the adjudicating authority the appellant shall do the same within the time that may be stipulated by the Tribunal upon adjudication of the appeal. 2. So far as redemption fine is concerned, learned counsel submits that when re-export is allowed there sho ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... racted. It was further held that Section112 of the Customs Act is different from the confiscation of the goods under section 125 of the Customs Act, 1962. The Apex court further pointed out that the facility to re-export does not, in any manner, take the case out of purview of section 125 to levy redemption fine. The ratio laid down by the Apex Court was followed by the Hon'ble High Court of M ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... followed by Hon'ble High Court of Madras, it would be proper to direct the appellant to deposit ₹ 50,000/- (Rupees fifty thousand only) towards redemption fine and entires amount of penalty and make prayer for re-export since mis-declaration surfaced on record. Such misdeclaration required the public exchequer to incur cost seeking report from the forest department. Mis-declaration bein ..... X X X X Extracts X X X X X X X X Extracts X X X X
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