https://www.taxtmi.com/caselaws?id=220708 Confiscated gold ornaments redeemable on payment of fine vested absolutely in the Union Government when the owner failed to exercise the redemption option within a reasonable time. Repeated notices over many years did not justify a later demand for return of the ornaments or, alternatively, the sale proceeds with interest, because the right of redemption had not been timely exercised after confiscation under the Gold (Control) Act, 1968. The claim was therefore rejected, and no legal basis remained to compel release of the ornaments or payment of their sale proceeds. en-us Wed, 09 Jan 2013 00:00:00 +0530 Fri, 14 Nov 2014 12:45:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=220708 Confiscated gold ornaments redeemable on payment of fine vested absolutely in the Union Government when the owner failed to exercise the redemption option within a reasonable time. Repeated notices over many years did not justify a later demand for return of the ornaments or, alternatively, the sale proceeds with interest, because the right of redemption had not been timely exercised after confiscation under the Gold (Control) Act, 1968. The claim was therefore rejected, and no legal basis remained to compel release of the ornaments or payment of their sale proceeds. Case-Laws Customs Wed, 09 Jan 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=220708