https://www.taxtmi.com/caselaws?id=391233 The High Court of Madras held that the Tribunal erred in setting aside the imposition of redemption fine under Section 125 of the Customs Act, 1962, based on the release of goods on a bond. The Court aligned its decision with the Supreme Court's ruling in Weston Components Ltd., clarifying that the release of goods on a bond does not prevent the imposition of a redemption fine. The Court set aside the Tribunal's observation as unsustainable, while maintaining other relief granted to the Assessee. The appeal concluded with the removal of the conflicting observation, and no costs were awarded. en-us Tue, 07 Jan 2020 00:00:00 +0530 Sat, 07 Nov 2020 18:43:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=391233 The High Court of Madras held that the Tribunal erred in setting aside the imposition of redemption fine under Section 125 of the Customs Act, 1962, based on the release of goods on a bond. The Court aligned its decision with the Supreme Court's ruling in Weston Components Ltd., clarifying that the release of goods on a bond does not prevent the imposition of a redemption fine. The Court set aside the Tribunal's observation as unsustainable, while maintaining other relief granted to the Assessee. The appeal concluded with the removal of the conflicting observation, and no costs were awarded. Case-Laws Customs Tue, 07 Jan 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=391233