https://www.taxtmi.com/caselaws?id=114167 The Tribunal allowed the redemption of the confiscated US $6,000 upon payment of a redemption fine of Rs. 1.50 lakh, citing the discretionary power under Section 125 of the Customs Act. The penalty imposed on the appellant was confirmed at Rs. 10,000, partially allowing the appeal. The decision emphasized the significance of retracted statements, ownership verification, and the discretionary authority of authorities in such matters, ensuring a balance between the appellant's interests and legal obligations. en-us Fri, 20 Nov 1998 00:00:00 +0530 Fri, 11 May 2012 17:56:10 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=114167 The Tribunal allowed the redemption of the confiscated US $6,000 upon payment of a redemption fine of Rs. 1.50 lakh, citing the discretionary power under Section 125 of the Customs Act. The penalty imposed on the appellant was confirmed at Rs. 10,000, partially allowing the appeal. The decision emphasized the significance of retracted statements, ownership verification, and the discretionary authority of authorities in such matters, ensuring a balance between the appellant's interests and legal obligations. Case-Laws Customs Fri, 20 Nov 1998 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=114167