https://www.taxtmi.com/caselaws?id=3100 Re-imported diamond-studded gold jewellery sent for exhibition remained liable to confiscation because it was not brought back within the prescribed time and no competent extension or relaxation was obtained under the applicable trade policy and procedure. The admitted delay meant the re-import conditions were not satisfied, so the confiscation and redemption fine were upheld as fair and reasonable. Liability to penalty also arose from the breach, but the quantum was moderated on the facts, and the importer's penalty was reduced from Rs. 1 lakh to Rs. 50,000. en-us Mon, 08 Oct 2007 00:00:00 +0530 Wed, 16 Apr 2008 16:11:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=3100 Re-imported diamond-studded gold jewellery sent for exhibition remained liable to confiscation because it was not brought back within the prescribed time and no competent extension or relaxation was obtained under the applicable trade policy and procedure. The admitted delay meant the re-import conditions were not satisfied, so the confiscation and redemption fine were upheld as fair and reasonable. Liability to penalty also arose from the breach, but the quantum was moderated on the facts, and the importer's penalty was reduced from Rs. 1 lakh to Rs. 50,000. Case-Laws Customs Mon, 08 Oct 2007 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=3100