https://www.taxtmi.com/caselaws?id=72647 Section 6(2) of the Gold Control Act, 1968 applies only where gold is held in connection with pledged, hypothecated, mortgaged or charged ornaments of a person advancing money on such security, and the relevant accounts do not properly record the gold. Where the admitted facts show that the ornaments were merely kept for sale and not pledged or hypothecated with the appellant, the statutory accounting obligation does not arise. On those facts, liability under Section 6(2) was not sustainable, and the impugned order was set aside. en-us Tue, 19 Aug 1986 00:00:00 +0530 Wed, 25 Jan 2012 17:15:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=72647 Section 6(2) of the Gold Control Act, 1968 applies only where gold is held in connection with pledged, hypothecated, mortgaged or charged ornaments of a person advancing money on such security, and the relevant accounts do not properly record the gold. Where the admitted facts show that the ornaments were merely kept for sale and not pledged or hypothecated with the appellant, the statutory accounting obligation does not arise. On those facts, liability under Section 6(2) was not sustainable, and the impugned order was set aside. Case-Laws Central Excise Tue, 19 Aug 1986 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=72647