https://www.taxtmi.com/caselaws?id=87177 Confiscation of foreign-marked gold was sustained on circumstantial evidence despite non-invocation of the Section 123 presumption under the Customs Act, 1962, because contradictory explanations, a false source claim, absence of duty-paying documents, and failure to give a consistent lawful account supported the inference of smuggled origin. A retracted statement was not treated as inherently unreliable, and the burden remained on the possessor to explain lawful possession. The penalty was found warranted but excessive and was reduced. en-us Mon, 09 Jun 1997 00:00:00 +0530 Sat, 03 Sep 2011 12:35:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=87177 Confiscation of foreign-marked gold was sustained on circumstantial evidence despite non-invocation of the Section 123 presumption under the Customs Act, 1962, because contradictory explanations, a false source claim, absence of duty-paying documents, and failure to give a consistent lawful account supported the inference of smuggled origin. A retracted statement was not treated as inherently unreliable, and the burden remained on the possessor to explain lawful possession. The penalty was found warranted but excessive and was reduced. Case-Laws Central Excise Mon, 09 Jun 1997 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=87177