2012 (2) TMI 146

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....a:   On matter being called, nobody appeared on behalf of appellants. They have filed written submissions which we have gone through. We have also heard ld. SDR.   2. As per facts on regard, gold bars were seized from the residential premises of Shri D.R.Jain on 23.04.97. Subsequently proceedings were initiated for imposition of penalty against them for confiscation of gold bars. O....

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....he Tribunal and the appeal was dismissed vide final order 11.01.2003.   5. In the meanwhile, the 21 gold biscuits were sold by the department on 09.03.2001 for Rs.10,33,263/-. When the proceedings attaining finality, the appellants applied for refund of pre-deposit of Rs.50,000/- deposited for release of gold bars. The same was subsequently released to the appellants.   6. The disp....

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....1987(30)ELT641 laying down that the authorities created by a statute are governed by the provisions of statute. We agree with the above decision laying down that in as much as there is no provision regarding payment of interest in respect of sale proceeds of confiscated goods, the same cannot be ordered. We accordingly reject the appellants appeal on the above ground.   9. As regards, the ....