https://www.taxtmi.com/caselaws?id=167538 Pledged gold ornaments identifiable with third-party owners and supported by accountal particulars were held not liable to confiscation merely because the appellants defaulted, though the appellants remained liable to penalty under the Gold (Control) Act. Primary gold obtained by melting a mangalsutra was still treated as a contravention of the Act and remained liable to confiscation, but the monetary consequences were mitigated by reducing the fine in lieu of confiscation and the personal penalty. The appeal therefore succeeded only in part, with relief confined to the pledged ornaments and reduced sanctions on the primary gold. en-us Fri, 29 Mar 1985 00:00:00 +0530 Tue, 23 Dec 2014 14:45:39 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=167538 Pledged gold ornaments identifiable with third-party owners and supported by accountal particulars were held not liable to confiscation merely because the appellants defaulted, though the appellants remained liable to penalty under the Gold (Control) Act. Primary gold obtained by melting a mangalsutra was still treated as a contravention of the Act and remained liable to confiscation, but the monetary consequences were mitigated by reducing the fine in lieu of confiscation and the personal penalty. The appeal therefore succeeded only in part, with relief confined to the pledged ornaments and reduced sanctions on the primary gold. Case-Laws Customs Fri, 29 Mar 1985 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=167538