https://www.taxtmi.com/caselaws?id=114324 Under Section 123 of the Customs Act, the person from whose possession foreign-marked gold is seized must rebut the statutory presumption with convincing, corroborated evidence of lawful source. Unsupported statements, an un-retracted Section 108 statement, and an insufficient affidavit were held inadequate to displace that burden, so the gold was treated as smuggled and liable to confiscation. The jeep used for transport was also confiscable, the principal dealer's penalty was sustained, the other main participant's penalty was reduced, and the penalties on the two transporters, along with the confiscation of shoes and socks, were set aside. en-us Fri, 11 Jun 2004 00:00:00 +0530 Mon, 14 May 2012 17:21:14 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=114324 Under Section 123 of the Customs Act, the person from whose possession foreign-marked gold is seized must rebut the statutory presumption with convincing, corroborated evidence of lawful source. Unsupported statements, an un-retracted Section 108 statement, and an insufficient affidavit were held inadequate to displace that burden, so the gold was treated as smuggled and liable to confiscation. The jeep used for transport was also confiscable, the principal dealer's penalty was sustained, the other main participant's penalty was reduced, and the penalties on the two transporters, along with the confiscation of shoes and socks, were set aside. Case-Laws Customs Fri, 11 Jun 2004 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=114324