https://www.taxtmi.com/caselaws?id=96380 Unaccounted gold ornaments found concealed in searched premises were held liable to confiscation because the seizure record and factual findings showed they were not supported by statutory accounts and the defence explanation was rejected. The redemption fine and penalty were nevertheless moderated, with the reduction justified by the harshness of the original amounts after repeal of the Gold (Control) Act. A foreign-marked gold biscuit found in the same premises was also held liable to confiscation under customs law because its possession was not credibly explained. No redemption fine was imposed for that biscuit, and the penalty was reduced. The confiscation findings were maintained, while the monetary burden was softened. en-us Wed, 16 May 2001 00:00:00 +0530 Wed, 21 Dec 2011 12:56:05 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=96380 Unaccounted gold ornaments found concealed in searched premises were held liable to confiscation because the seizure record and factual findings showed they were not supported by statutory accounts and the defence explanation was rejected. The redemption fine and penalty were nevertheless moderated, with the reduction justified by the harshness of the original amounts after repeal of the Gold (Control) Act. A foreign-marked gold biscuit found in the same premises was also held liable to confiscation under customs law because its possession was not credibly explained. No redemption fine was imposed for that biscuit, and the penalty was reduced. The confiscation findings were maintained, while the monetary burden was softened. Case-Laws Customs Wed, 16 May 2001 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=96380