https://www.taxtmi.com/caselaws?id=73842 Admitted non-accountal of gold ornaments justified retention of the moderated fine and penalty, as the quantity seized, its value and the circumstances did not disclose any basis for further reduction. By contrast, non-renewal of the gold dealer's licence was held disproportionate for a first-time contravention where the dealer had long experience, no previous breach and no prosecution on record. The drastic licensing consequence was therefore set aside, while the monetary punishment was maintained, leaving the appellant with only partial relief. en-us Tue, 09 Feb 1988 00:00:00 +0530 Wed, 01 Feb 2012 17:12:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=73842 Admitted non-accountal of gold ornaments justified retention of the moderated fine and penalty, as the quantity seized, its value and the circumstances did not disclose any basis for further reduction. By contrast, non-renewal of the gold dealer's licence was held disproportionate for a first-time contravention where the dealer had long experience, no previous breach and no prosecution on record. The drastic licensing consequence was therefore set aside, while the monetary punishment was maintained, leaving the appellant with only partial relief. Case-Laws Central Excise Tue, 09 Feb 1988 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=73842