2017 (5) TMI 802

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....ased 1 kg. of gold seized by seizure case dated 03.09.2003, which was accepted by the department. By order dated 19.07.2010, the Assistant Commissioner of Customs, Seizure & Disposal, stated that the owner of the goods is entitled to redeem the seized gold on payment of Redemption Fine and penalty alongwith Customs duty payable. But the seized Gold has already been disposed of through the State Bank of India, by the department on observance of necessary formalities. Accordingly, the appellant was allowed Refund of Rs. 11,15,904/-, after adjusting the amount of Rs. 77,250/-, as sale proceeds of one kg. Gold. By the impugned order, the Commissioner(Appeals) held that if the department has not put Sri Soni to notice under section 150 of the Cu....

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....id to the owner of the goods : [Provided that where it is not possible to pay the balance of sale proceeds, if any, to the owner of the goods within a period of six months from the date of sale of such goods or such further period as the [Principal Commissioner of Customs or Commissioner of Customs] may allow, such balance of sale proceeds shall be paid to the Central Government.]" 4. On plain reading of Section 150, it is clear that where any goods, not being confiscated goods, are to be sold after notice to the owner of the goods following the procedure as specified therein. In the present case, on perusal of the order dated 19.07.2010 of the Assistant Commissioner, it is evident that the seized Gold was released on payment of Redempti....