confiscation

“To Confiscate” means to appropriate private property to public treasury. Thus after confiscation the goods becomes a property of the government and the government candeal with it as it wants. Through option of redemption fine, government offers to some person to take ownership of the goods. Redemption fine is not a penalty and it has no penal connotation. In Blue Dart Express v. Commissioner of Customs the Tribunal observed that redemption fine in lieu of confiscati.. Full Article

“A company (hereinafter called C) did a Cenvat fraud. A transporter (called T) assisted the company by providing fake Goods Receipts, when actually the goods were never transported. Original authority confirm the demand and imposed a penalty of one crore on the company. Personal penalty of 50 lakhs was imposed on the Managing Director of the company. A penalty of 10 lakhs was imposed on the transporter. Full Article

The government will arm income-tax officials with details about assets of individuals whose tax payments are pending, a move aimed at meeting the Rs 13,153-crore target for arrears collection this fiscal. Full Article