Redemption fine limits: option to pay in lieu of confiscation available subject to market value cap and procedural safeguards.

Quasi judicial adjudication under the Customs Act mandates notice, opportunity for representation and hearing before penalties or confiscation; specified officers have adjudicatory limits as notified. Section 125 permits an option to pay a redemption fine in lieu of confiscation subject to a market value cap (with adjustments for duty in certain cases) and procedural exceptions; confiscated goods vest in the government under section 126. Redemption fines do not remove liability for duties and lapse if not timely exercised unless an appeal is pending.

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