Register Price / Packages DEMO Option My Bookmarks Daily Newsletters Feedback/ Suggestions
Tax Management India. Com
Law and Practice  :  Digital eBook
Research is most exciting & rewarding


Case Laws Acts Notifications Circulars Classification Forms Manuals Articles News D. Forum Highlights Notes
TMI - e-Newsletter     TaxTMI    Rectification u/s 154 - The Assessee argued that...     TaxTMI    Seeking rectification in Form GSTR-1 - limitation...     TaxTMI    Penalty for Non-filing of monthly return - Seeking...     TaxTMI    Detention of the goods and vehicle - stock transfer...     TaxTMI    Refund of EDD - Period of limitation - Appellant...     TaxTMI    Additions on the basis of material seized during...     TaxTMI    Penalty u/s 270A - allegation of misreporting as...     TaxTMI    Estimation of income - bogus purchases - The...     TaxTMI    Rejection of application for registration u/s...     TaxTMI    Condonation of delay - substantial delay of 166...     TaxTMI    Unexplained cash credit u/s 68 - The Court...     TaxTMI    Validity of Reassessment notices issued unsigned -...     TaxTMI    Demand of late fee u/s 47(1) of the CGST / SGST Act...     TaxTMI    Validity Of Order passed u/s 73 - Denial of ITC...     TaxTMI    Validity Of Order passed u/s 73 - cryptic order -...     TaxTMI    Latest Case-Laws     TaxTMI    Latest Notifications + Circulars     TaxTMI    GST Council Decisions     TaxTMI       Right Stop
  TMI - Tax Management India. Com
Follow us:
  Facebook   Twitter   Linkedin   Telegram
Customs - Highlights / Catch Notes

Home Highlights October 2023 Year 2023 This

Confiscation of Gold bar with an option to pay redemption fine - ...

Customs

October 19, 2023

Confiscation of Gold bar with an option to pay redemption fine - absolute confiscation of currency - the Department has not shown any proof that the seized cash was sale proceeds of smuggled gold and thus confiscation under Section 121 Customs Act is unsustainable, more so since the appellant’s Books of Accounts clearly reflect that this was part of his Cash in Hand and had been received from legitimate sources. - AT

View Source

 

← Previous Next →

 

You may also like:

  1. Source of Gold bars of foreign origin - Received under Will - The Revenue’s appeals which are only against conversion of absolute confiscation into option of redemption,...

  2. Absolute Confiscation - penalty u/s 114AA of FA - baggage - gold bars shoes and socks - The adjudicating authority has held that the gold does not fall under the...

  3. Absolute Confiscation of the seized gold and foreign currency - Prohibited item or not - Baggage Rules - The appellant claimed that he was misdirected at the airport and...

  4. Confiscation of imported goods - lubricant oil open gear - hazardous waste liable to confiscation or not - Redemption of the goods against the redemption fine is the...

  5. Liability of redemption fine when goods are confiscated - redemption fine, is an option in lieu of confiscation and hence, both cannot run simultaneously, which means...

  6. Absolute Confiscation - penalty - import of old and used Digital Multifunctional Devices (MFDs) with standard accessories from Singapore - the goods (MFDs) are not...

  7. Imposition of redemption fine - goods were received in excess of the quantity specified in the documents, without the knowledge of the appellant - redemption fine and...

  8. Confiscation of goods - Claim of waiver from imposition of redemption fine - merely because the importer acted in good faith will not entitle the importer to complete...

  9. Redemption fine - theoretically redemption fine could be enhanced but it is essential to determine the market price of the confiscated goods adjudicated upon - AT

  10. Mere payment of redemption fine in no way dwarfs the right of the appellant to challenge not only confiscation but also imposition of redemption fine and final penalty - HC

 

Quick Updates:Latest Updates

What's New:
    Latest Case Laws
What's New:
    Latest Notifications
What's New:
    Latest Circulars
H: Securities and Exchange Board of India (Research Analysts) (Amendment)...
H: Securities and Exchange Board of India (Investment Advisers) (Amendmen...
H: SEBI recently issued the Securities and Exchange Board of India (Alter...
H: Export of 2,000 MT of White Onion under Code 0703 10 19 - The exports ...
H: Amendment to Regulation 4 of FEMA, Mode of Payment and Reporting of No...
H: Amendment to Regulation 3.1 of FEMA, Mode of Payment and Reporting of ...
H: Foreign Exchange Management (Foreign Currency Accounts by a person res...
H: The notification issued by DGFT extends the accreditation period for H...
H: Control of income-tax authorities - U/s 118 - Notification No. 39/2024...
A: ADDITIONAL GROUNDS OF APPEAL AND ORDER IN APPEAL IN GST
A: Know the Challenges and Issues with GST
F: Sec 16(4) Reversal of ITC when 3B is filed belatedly
F: sales Against 0.1% GST- if export not done within 90 Days
H: Validity of Service of notice u/s 74(5) instead of u/s 74(1) of CGST /...
H: Levy of penalty - the e-way bill had expired one hour fifteen minutes ...
H: Ex-parte order - Quantification of Liability - intention of evade GST ...
H: Calculation of Tax Liability based on subsequent years Balance Sheet -...
C: Limits for investment in debt and sale of Credit Default Swaps by Fore...
H: Validity of assessment orders - The High court examined the timeline o...
H: Levy of penalty u/s 271(1)(c) - The Tribunal found no justification fo...
C: Framework for Category I and II Alternative Investment Funds (AIFs) to...
C: Flexibility to Alternative Investment Funds (AIFs) and their investors...
N: Securities Contracts (Regulation) (Stock Exchanges and Clearing Corpor...
N: Securities and Exchange Board of India (Research Analysts) (Amendment)...
N: Securities and Exchange Board of India (Investment Advisers) (Amendmen...
A: WRONG FIXATION OF FEES PAYABLE TO INTERIM RESOLUTION PROFESSIONAL
A: MANNER OF FILING APPEAL BY COMMISSIONER
A: Recovery proceedings not to be initiated against the former director o...
A: A simplified GST guide designed for commission agents and brokers.
A: Delhi HC issued notice to decide on the taxability of providing corpor...