https://www.taxtmi.com/caselaws?id=283937 The Tribunal upheld the order allowing redemption of seized gold on payment of a fine in lieu of confiscation. It determined that since the gold was not classified as prohibited goods, it could not be subject to absolute confiscation under Section 125 of the Customs Act, 1962. The Tribunal dismissed the Revenue's appeal, emphasizing that only prohibited goods cannot be redeemed through payment of a fine. The judgment provided a clear resolution on the interpretation of the relevant legal provisions, concluding the dispute regarding the redemption of the seized gold. en-us Mon, 11 Sep 2017 00:00:00 +0530 Tue, 22 Oct 2019 07:31:22 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=283937 The Tribunal upheld the order allowing redemption of seized gold on payment of a fine in lieu of confiscation. It determined that since the gold was not classified as prohibited goods, it could not be subject to absolute confiscation under Section 125 of the Customs Act, 1962. The Tribunal dismissed the Revenue's appeal, emphasizing that only prohibited goods cannot be redeemed through payment of a fine. The judgment provided a clear resolution on the interpretation of the relevant legal provisions, concluding the dispute regarding the redemption of the seized gold. Case-Laws Customs Mon, 11 Sep 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=283937