https://www.taxtmi.com/caselaws?id=787203 The petition challenged entitlement to re-export and refund after late payment of a redemption fine and penalty where an option to redeem was granted under Section 125 but conditioned on payment within 120 days. The court applied the statutory rule that the redemption option lapses if unpaid within the 120 day period unless an appeal is pending; the petitioner filed no appeal and paid only after about one year, so the option could not be revived. Consequently re-export directions were refused, the petition was dismissed, and the redemption fine (not the penalty) was directed to be refunded. en-us Fri, 06 Feb 2026 00:00:00 +0530 Sat, 28 Feb 2026 08:41:51 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=787203 The petition challenged entitlement to re-export and refund after late payment of a redemption fine and penalty where an option to redeem was granted under Section 125 but conditioned on payment within 120 days. The court applied the statutory rule that the redemption option lapses if unpaid within the 120 day period unless an appeal is pending; the petitioner filed no appeal and paid only after about one year, so the option could not be revived. Consequently re-export directions were refused, the petition was dismissed, and the redemption fine (not the penalty) was directed to be refunded. Case-Laws Customs Fri, 06 Feb 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=787203