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Issues:
1. Redemption of confiscated gold and ornaments under the Gold (Control) Act, 1968. 2. Delay in exercising the option of redemption. 3. Application for condonation of delay. 4. Seeking release of sale proceeds. Issue 1: Redemption of confiscated gold and ornaments under the Gold (Control) Act, 1968: The case involved the confiscation of gold and ornaments by the Collector of Central Excise, Cochin, with an option of redemption on payment of a fine. The Tribunal reduced the fine and penalty amounts but set a specific time frame for exercising the redemption option. The appellant failed to meet this deadline, leading to a rejection of the redemption request. The appellant argued that since the original order was not for absolute confiscation, the gold should not be liable for absolute confiscation due to the delay. However, the Tribunal held that the appellant should have filed a rectification application within the stipulated time frame, which has now expired. The Tribunal cited precedents to support its decision that it cannot condone the delay in such cases. Issue 2: Delay in exercising the option of redemption: The Tribunal noted that the appellant did not adhere to the time frame set for redeeming the gold and converting it into ornaments as per the Tribunal's order. Despite the appellant's argument that the gold should not be liable for absolute confiscation due to the delay, the Tribunal emphasized that the appellant's remedy was to file a rectification application within the specified period, which has now lapsed. The Tribunal cited previous decisions to support its stance that it lacks the authority to condone such delays. Issue 3: Application for condonation of delay: The appellant filed an application seeking condonation of delay in complying with the Tribunal's order for redemption within a specific period. However, since this application was not disposed of, the appellant moved the High Court, which directed the Tribunal to address the application. The Tribunal ultimately rejected the application as infructuous since the original order had already been executed. Issue 4: Seeking release of sale proceeds: During the proceedings, it was revealed that the goods in question had been disposed of by the authorities in 1998. Subsequently, the appellant filed an application seeking the release of sale proceeds minus the redemption fine and penalty. The Tribunal heard both sides on this matter but ultimately rejected the applications as infructuous, considering that the original order had been fully implemented. In conclusion, the Tribunal's decision emphasized the importance of adhering to specified time frames for redemption options and highlighted the limitations on its authority to condone delays in such cases.
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