https://www.taxtmi.com/caselaws?id=40998 Goods specified for a notified area under Chapter IVB are treated by statutory fiction as goods likely to be illegally exported, enabling confiscation even without direct proof of an actual attempt to take them out of India. The scheme under Chapter IVB is aimed at preventing and detecting illegal export, and once goods are specified, their treatment under the Customs Act follows from that legal characterisation. On that basis, the specified silver was liable to confiscation and the related penalty was sustainable against the assessee. en-us Mon, 14 Apr 1980 00:00:00 +0530 Wed, 19 May 2010 16:16:57 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=40998 Goods specified for a notified area under Chapter IVB are treated by statutory fiction as goods likely to be illegally exported, enabling confiscation even without direct proof of an actual attempt to take them out of India. The scheme under Chapter IVB is aimed at preventing and detecting illegal export, and once goods are specified, their treatment under the Customs Act follows from that legal characterisation. On that basis, the specified silver was liable to confiscation and the related penalty was sustainable against the assessee. Case-Laws Customs Mon, 14 Apr 1980 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=40998