https://www.taxtmi.com/caselaws?id=314073 Delhi HC set aside an order releasing seized gold articles on payment of redemption fine. The court found that 12,000 grams of gold bars worth Rs. 3.56 crores were deliberately concealed in UPS machines and imported through courier, violating regulated import regime. Since gold import is strictly regulated and permitted only through identified agencies following restricted procedures per Customs and RBI circulars, the gold fell under prohibited category under Section 125 of the Act. The Adjudicating Authority erred in directing release, and the appeal was allowed. en-us Fri, 15 Sep 2023 00:00:00 +0530 Thu, 16 May 2024 06:35:57 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=314073 Delhi HC set aside an order releasing seized gold articles on payment of redemption fine. The court found that 12,000 grams of gold bars worth Rs. 3.56 crores were deliberately concealed in UPS machines and imported through courier, violating regulated import regime. Since gold import is strictly regulated and permitted only through identified agencies following restricted procedures per Customs and RBI circulars, the gold fell under prohibited category under Section 125 of the Act. The Adjudicating Authority erred in directing release, and the appeal was allowed. Case-Laws Customs Fri, 15 Sep 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=314073