https://www.taxtmi.com/caselaws?id=166157 A broad declaration obligation under Section 16(7) was read to cover gold owned, possessed, held or controlled in any capacity, including ornaments belonging to the dealer's wife, and the later declaration after seizure did not cure the default. On that basis, the confiscation of the ornaments was upheld as sustainable. The breach was not treated as deliberate defiance, however, so the redemption fine was regarded as excessive to that extent and was reduced from Rs. 15,000 to Rs. 5,000. en-us Tue, 19 Apr 1983 00:00:00 +0530 Wed, 27 Aug 2014 14:11:21 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=166157 A broad declaration obligation under Section 16(7) was read to cover gold owned, possessed, held or controlled in any capacity, including ornaments belonging to the dealer's wife, and the later declaration after seizure did not cure the default. On that basis, the confiscation of the ornaments was upheld as sustainable. The breach was not treated as deliberate defiance, however, so the redemption fine was regarded as excessive to that extent and was reduced from Rs. 15,000 to Rs. 5,000. Case-Laws Customs Tue, 19 Apr 1983 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=166157