https://www.taxtmi.com/caselaws?id=41731 The court ruled in favor of the petitioners, modifying the confiscation order to allow redemption of the ship on payment of the total value of the contraband goods involved. The court found the imposed fine excessive and held that fines in such proceedings must be based on specific charges, not assumptions. The Department could enforce a bank guarantee for the specified amount, discharging the rest of the guarantee. The judgment settled the matter in favor of the petitioners, clarifying the correct application of fines in cases of confiscation under the Customs Act, 1962. en-us Thu, 24 Jul 1986 00:00:00 +0530 Sat, 05 Jun 2010 16:48:12 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=41731 The court ruled in favor of the petitioners, modifying the confiscation order to allow redemption of the ship on payment of the total value of the contraband goods involved. The court found the imposed fine excessive and held that fines in such proceedings must be based on specific charges, not assumptions. The Department could enforce a bank guarantee for the specified amount, discharging the rest of the guarantee. The judgment settled the matter in favor of the petitioners, clarifying the correct application of fines in cases of confiscation under the Customs Act, 1962. Case-Laws Customs Thu, 24 Jul 1986 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=41731