https://www.taxtmi.com/caselaws?id=348697 The Tribunal upheld the adjudicating authority's discretion to impose a fine instead of absolute confiscation of gold bars, citing relevant case law. The redemption fine was increased to Rs. 40 lakhs based on the gravity of the offense, despite the Respondent's argument on profit margin. The Tribunal also upheld the appropriation of customs duty and interest, rejecting the Revenue's challenge regarding the benefit of exemption notification. The appeal was disposed of with the modification of the redemption fine. en-us Fri, 15 Sep 2017 00:00:00 +0530 Thu, 28 Feb 2019 16:25:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=348697 The Tribunal upheld the adjudicating authority's discretion to impose a fine instead of absolute confiscation of gold bars, citing relevant case law. The redemption fine was increased to Rs. 40 lakhs based on the gravity of the offense, despite the Respondent's argument on profit margin. The Tribunal also upheld the appropriation of customs duty and interest, rejecting the Revenue's challenge regarding the benefit of exemption notification. The appeal was disposed of with the modification of the redemption fine. Case-Laws Customs Fri, 15 Sep 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=348697