https://www.taxtmi.com/caselaws?id=72739 The Tribunal upheld the impugned order under the Customs Act, 1962, confirming the confiscation of gold slabs of foreign origin seized from the appellants' premises. The appellants failed to provide a satisfactory explanation for the possession of the gold, leading to its seizure. The Tribunal emphasized the applicability of statutory presumptions under Sections 120, 111(d), and 123 of the Act, holding that the burden of proof rested on the possessor to demonstrate the legitimacy of the goods. The denial of the redemption option for the seized gold was justified based on clear evidence of smuggling. en-us Thu, 31 Jul 1986 00:00:00 +0530 Tue, 24 May 2011 17:18:57 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=72739 The Tribunal upheld the impugned order under the Customs Act, 1962, confirming the confiscation of gold slabs of foreign origin seized from the appellants' premises. The appellants failed to provide a satisfactory explanation for the possession of the gold, leading to its seizure. The Tribunal emphasized the applicability of statutory presumptions under Sections 120, 111(d), and 123 of the Act, holding that the burden of proof rested on the possessor to demonstrate the legitimacy of the goods. The denial of the redemption option for the seized gold was justified based on clear evidence of smuggling. Case-Laws Customs Thu, 31 Jul 1986 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=72739