https://www.taxtmi.com/caselaws?id=756001 The SC held that when confiscated goods are redeemed after payment of fine under Section 125 of the Customs Act, 1962, customs duty liability arises as a precondition for redemption. The court clarified that while duty obligation originates from exercising the Section 125 option, the assessment and determination follows Section 28 procedures. The SC ruled that interest on delayed payment under Section 28AB applies to such duty obligations, as Section 125(2) mandates payment of duty and charges in addition to the fine. The HC decision was upheld and appeal disposed of. en-us Tue, 23 Jul 2024 00:00:00 +0530 Wed, 24 Jul 2024 17:48:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=756001 The SC held that when confiscated goods are redeemed after payment of fine under Section 125 of the Customs Act, 1962, customs duty liability arises as a precondition for redemption. The court clarified that while duty obligation originates from exercising the Section 125 option, the assessment and determination follows Section 28 procedures. The SC ruled that interest on delayed payment under Section 28AB applies to such duty obligations, as Section 125(2) mandates payment of duty and charges in addition to the fine. The HC decision was upheld and appeal disposed of. Case-Laws Customs Tue, 23 Jul 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=756001