https://www.taxtmi.com/caselaws?id=205357 The Tribunal upheld the absolute confiscation of diamonds seized from an individual and indigenous diamonds from a company, with reduced penalties and modified conditions. The individual's retracted statements were deemed invalid, and legal provisions and precedents supported the decisions. Penalties were reduced for both parties, emphasizing export obligations and proper storage. The appeals were disposed of accordingly, affirming the confiscations and penalties with adjustments. en-us Fri, 17 Jun 2011 00:00:00 +0530 Fri, 17 Feb 2012 17:34:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=205357 The Tribunal upheld the absolute confiscation of diamonds seized from an individual and indigenous diamonds from a company, with reduced penalties and modified conditions. The individual's retracted statements were deemed invalid, and legal provisions and precedents supported the decisions. Penalties were reduced for both parties, emphasizing export obligations and proper storage. The appeals were disposed of accordingly, affirming the confiscations and penalties with adjustments. Case-Laws Customs Fri, 17 Jun 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=205357