https://www.taxtmi.com/caselaws?id=73486 Gold ornaments held as security for money advanced to friends and relatives were not shown on the facts to constitute hypothecation, pledge, mortgage or charge under the Gold Control Act, and no prescribed return under Section 6(1) was established. The quantity of ornaments found with each appellant was also below the statutory threshold for a declaration under Section 16, and the exemption in Section 16(5) prevented Rule 4 from extending the declaration obligation beyond the section. As neither contravention was proved, confiscation and penalty could not be sustained. en-us Tue, 22 Dec 1987 00:00:00 +0530 Sat, 28 Jan 2012 10:50:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=73486 Gold ornaments held as security for money advanced to friends and relatives were not shown on the facts to constitute hypothecation, pledge, mortgage or charge under the Gold Control Act, and no prescribed return under Section 6(1) was established. The quantity of ornaments found with each appellant was also below the statutory threshold for a declaration under Section 16, and the exemption in Section 16(5) prevented Rule 4 from extending the declaration obligation beyond the section. As neither contravention was proved, confiscation and penalty could not be sustained. Case-Laws Central Excise Tue, 22 Dec 1987 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=73486