https://www.taxtmi.com/caselaws?id=72069 A licensed gold dealer is required to maintain a true and complete account of gold in the subsidiary register at the place where it is actually held, and unentered gold is treated as non-accountal under the Gold (Control) Act, 1968. Where claimants cannot credibly establish ownership of seized old ornaments or explain the source and manufacture of new ornaments, the explanation may be rejected. Such unexplained, unaccounted stock supports confiscation and penalty under the Act, together with redemption fine where applicable. en-us Wed, 31 Jul 1985 00:00:00 +0530 Wed, 25 Jan 2012 16:48:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=72069 A licensed gold dealer is required to maintain a true and complete account of gold in the subsidiary register at the place where it is actually held, and unentered gold is treated as non-accountal under the Gold (Control) Act, 1968. Where claimants cannot credibly establish ownership of seized old ornaments or explain the source and manufacture of new ornaments, the explanation may be rejected. Such unexplained, unaccounted stock supports confiscation and penalty under the Act, together with redemption fine where applicable. Case-Laws Central Excise Wed, 31 Jul 1985 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=72069