https://www.taxtmi.com/caselaws?id=103642 The appellate tribunal partially allowed the appeal, reducing the personal penalty imposed on the appellant from Rs. 50,000 to Rs. 25,000. The tribunal set aside the confiscation of Indian currency, as there was no conclusive evidence linking it to smuggled gold. The appellant's evidence of legal acquisition of gold biscuits was rejected due to discrepancies, leading to the confiscation of the gold. The judgment addresses the seizure, confiscation, and penalties imposed in relation to the smuggled gold and currency. en-us Tue, 04 Sep 2001 00:00:00 +0530 Fri, 24 Feb 2012 11:31:32 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=103642 The appellate tribunal partially allowed the appeal, reducing the personal penalty imposed on the appellant from Rs. 50,000 to Rs. 25,000. The tribunal set aside the confiscation of Indian currency, as there was no conclusive evidence linking it to smuggled gold. The appellant's evidence of legal acquisition of gold biscuits was rejected due to discrepancies, leading to the confiscation of the gold. The judgment addresses the seizure, confiscation, and penalties imposed in relation to the smuggled gold and currency. Case-Laws Customs Tue, 04 Sep 2001 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=103642