Appellate Tribunal: Gold Purchase Proof Deemed Sufficient

The Appellate Tribunal CESTAT, Kolkata held that the proof of purchase presented by the appellants sufficiently demonstrated the lawful acquisition of the disputed gold. Despite the absence of the specific mention of "CREDIT SUISSE 999.0," the description "T. T. GOLD BAR FINE 999" was deemed acceptable. The Tribunal granted the benefit of doubt to the appellants based on the gold's purity and a prior ruling, thereby overturning the challenged Order and providing relief to the appellants. (Judgment rendered on 9-6-2006)

---

---

The Appellate Tribunal CESTAT, Kolkata decided that the proof of purchase produced by the appellants was sufficient to discharge the burden regarding the licit acquisition of the impugned gold. The description of the gold bars as "T. T. GOLD BAR FINE 999" was considered acceptable despite not mentioning "CREDIT SUISSE 999.0" in the document. The Tribunal extended the benefit of doubt to the appellants based on the purity of the gold and a previous decision, setting aside the impugned Order with consequential benefit to the appellants. (Judgement pronounced on 9-6-2006)

---