https://www.taxtmi.com/caselaws?id=43785 The Court ruled in favor of the petitioner in a Customs Act violation case involving non-declaration of jewellery. Despite the confiscation and penalty imposition, the Tribunal allowed clearance of jewellery upon payment of a fine and reduced the penalty. The Court criticized the petitioner's inaction post-confirmation of Customs' decision but acknowledged the disposal of jewellery before the Tribunal's order. It directed the respondents to refund the sale proceeds minus the redemption fine promptly, with interest from the date of knowledge of the sale value, emphasizing the refund amount rather than the current market value. en-us Thu, 10 Mar 1994 00:00:00 +0530 Mon, 21 Jun 2010 10:47:35 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=43785 The Court ruled in favor of the petitioner in a Customs Act violation case involving non-declaration of jewellery. Despite the confiscation and penalty imposition, the Tribunal allowed clearance of jewellery upon payment of a fine and reduced the penalty. The Court criticized the petitioner's inaction post-confirmation of Customs' decision but acknowledged the disposal of jewellery before the Tribunal's order. It directed the respondents to refund the sale proceeds minus the redemption fine promptly, with interest from the date of knowledge of the sale value, emphasizing the refund amount rather than the current market value. Case-Laws Customs Thu, 10 Mar 1994 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=43785