2013 (7) TMI 281

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....This appeal is filed by Revenue challenging the order passed by the Customs, Excise & Service Tax Appellate Tribunal, South Zonal Bench, Bangalore (hereinafter called as Tribunal for short) which held that the first appellant is not liable to discharge the duty liability for the impugned gold, not liable for penalty under Section 112 (a) of the Customs Act, 1962. 2. The first appellant in the i....

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....at 925 kgs of imported duty from gold valued at Rs. 55.60 crores are liable to confiscation under Section 111 (j) and 111 (o) of the Customs Act, 1962. He imposed a redemption fine of Rs. 30 Crores on the first appellant under section 125 of the Customs Act. The benefit of exemption under the Customs Notification was denied in respect of 925 kgs of gold. Duty was demanded on the first appellant un....