https://www.taxtmi.com/caselaws?id=74114 Inherited gold coins described as ancestral property were held outside Section 8(5) of the Gold (Control) Act, because that restriction was treated as applying to coins received by gift or transfer, and there was no charge of non-declaration; their confiscation was therefore set aside. By contrast, the quantity and form of the primary gold, together with surrounding circumstances, supported a finding of repeated clandestine gold dealings and contravention of the licensing provisions, so confiscation of the primary gold and ornaments, with redemption fine, was sustained. The penalty on the mother was also set aside because the materials did not show her involvement in the business. en-us Thu, 08 Sep 1988 00:00:00 +0530 Wed, 01 Feb 2012 17:35:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=74114 Inherited gold coins described as ancestral property were held outside Section 8(5) of the Gold (Control) Act, because that restriction was treated as applying to coins received by gift or transfer, and there was no charge of non-declaration; their confiscation was therefore set aside. By contrast, the quantity and form of the primary gold, together with surrounding circumstances, supported a finding of repeated clandestine gold dealings and contravention of the licensing provisions, so confiscation of the primary gold and ornaments, with redemption fine, was sustained. The penalty on the mother was also set aside because the materials did not show her involvement in the business. Case-Laws Central Excise Thu, 08 Sep 1988 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=74114