https://www.taxtmi.com/caselaws?id=73898 Gold kept in business premises used for unlicensed gold dealing is ordinarily presumed to be stock-in-trade meant for sale, and the dealer bears the burden of rebutting that presumption. Where unlicensed dealing under the Gold (Control) Act is admitted and the seized gold is not shown to be unrelated to the business, the gold becomes liable to confiscation under the Act. The commentary also notes that the extent of unauthorized transactions may support the view that absolute confiscation and penalty are not excessive, reinforcing the confiscatory and penal consequences of operating without a valid dealer's licence. en-us Tue, 09 Aug 1988 00:00:00 +0530 Wed, 01 Feb 2012 17:16:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=73898 Gold kept in business premises used for unlicensed gold dealing is ordinarily presumed to be stock-in-trade meant for sale, and the dealer bears the burden of rebutting that presumption. Where unlicensed dealing under the Gold (Control) Act is admitted and the seized gold is not shown to be unrelated to the business, the gold becomes liable to confiscation under the Act. The commentary also notes that the extent of unauthorized transactions may support the view that absolute confiscation and penalty are not excessive, reinforcing the confiscatory and penal consequences of operating without a valid dealer's licence. Case-Laws Central Excise Tue, 09 Aug 1988 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=73898