Bona fide disclosure requirements govern under-reporting penalties, and post-penalty immunity applications cannot secure available statutory protectio...
Certificate-of-origin verification procedure governs preferential customs benefits; denial without retroactive verification was set aside with consequ...
Disciplinary Committee jurisdiction and mandatory investigation requirements invalidated cancellation of an insolvency professional's registration and...
Foreign-origin gold seized under a reasonable belief of smuggling is subject to a statutory burden of proof requiring the claimant-owner to establish lawful import. Foreign markings, unsupported purchase documents and failure to correlate those documents with the seized bars may establish that this burden remains undischarged, rendering the gold liable to confiscation. Confiscation may be accompanied by redemption on payment of the adjudged fine. A person who knowingly handles, transports or possesses goods known or reasonably believed to be liable to confiscation may incur penalty. Handling and possession of gold found liable to confiscation can therefore support both confiscation-related consequences and a statutory penalty.
Foreign-origin gold seized under a reasonable belief of smuggling is subject to a statutory burden of proof requiring the claimant-owner to establish lawful import. Foreign markings, unsupported purchase documents and failure to correlate those documents with the seized bars may establish that this burden remains undischarged, rendering the gold liable to confiscation. Confiscation may be accompanied by redemption on payment of the adjudged fine. A person who knowingly handles, transports or possesses goods known or reasonably believed to be liable to confiscation may incur penalty. Handling and possession of gold found liable to confiscation can therefore support both confiscation-related consequences and a statutory penalty.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 4805
Join Channel
TaxTMI 
