https://www.taxtmi.com/caselaws?id=204923 The Tribunal ruled in favor of the appellants in a case concerning rough diamonds. It held that confiscation and penalties on rough diamonds without Bills of Entry were not sustainable, following the High Court's judgment. Confiscation of diamonds with Bills of Entry was upheld, with a 20% redemption fine imposed. The appellants were entitled to the return of sale proceeds from auctioned diamonds, with interest at 9% per annum granted. The Tribunal ordered the return of sale proceeds after adjustments and proportional reduction of penalties and fines for each appellant. en-us Wed, 24 Nov 2010 00:00:00 +0530 Thu, 30 Jun 2011 12:17:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=204923 The Tribunal ruled in favor of the appellants in a case concerning rough diamonds. It held that confiscation and penalties on rough diamonds without Bills of Entry were not sustainable, following the High Court's judgment. Confiscation of diamonds with Bills of Entry was upheld, with a 20% redemption fine imposed. The appellants were entitled to the return of sale proceeds from auctioned diamonds, with interest at 9% per annum granted. The Tribunal ordered the return of sale proceeds after adjustments and proportional reduction of penalties and fines for each appellant. Case-Laws Customs Wed, 24 Nov 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=204923