https://www.taxtmi.com/caselaws?id=207441 The Tribunal granted the Revenue's Rectification of Mistake application, directing the return of the balance sale proceeds of disposed gold after realizing duty, fine, and penalty. The Tribunal relied on its own decisions, emphasizing the applicability of Section 125(2) of the Customs Act, 1962, which requires duty deduction from sale proceeds. Precedent decisions supported this stance, rejecting claims for full sale proceeds return. The Tribunal highlighted specific Customs Act provisions mandating duty collection on imported goods. Consequently, the applications were disposed of, affirming the duty deduction from sale proceeds before returning any balance to the owner. en-us Mon, 23 May 2011 00:00:00 +0530 Tue, 13 Dec 2011 22:30:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=207441 The Tribunal granted the Revenue's Rectification of Mistake application, directing the return of the balance sale proceeds of disposed gold after realizing duty, fine, and penalty. The Tribunal relied on its own decisions, emphasizing the applicability of Section 125(2) of the Customs Act, 1962, which requires duty deduction from sale proceeds. Precedent decisions supported this stance, rejecting claims for full sale proceeds return. The Tribunal highlighted specific Customs Act provisions mandating duty collection on imported goods. Consequently, the applications were disposed of, affirming the duty deduction from sale proceeds before returning any balance to the owner. Case-Laws Customs Mon, 23 May 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=207441