https://www.taxtmi.com/caselaws?id=266858 The Tribunal allowed the appeals, setting aside the confiscation of the 22 pcs. of gold biscuits and the penalties imposed on the appellants. The Tribunal emphasized the discrepancies in the Revenue's case and the appellant's successful demonstration of the licit acquisition of the gold biscuits through valid purchase documents. The judgment reinforced the principle that possession of foreign marked gold in India does not inherently indicate smuggling, especially in the absence of evidence linking the gold to illicit activities. en-us Fri, 21 Aug 2015 00:00:00 +0530 Fri, 08 Jan 2016 16:38:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=266858 The Tribunal allowed the appeals, setting aside the confiscation of the 22 pcs. of gold biscuits and the penalties imposed on the appellants. The Tribunal emphasized the discrepancies in the Revenue's case and the appellant's successful demonstration of the licit acquisition of the gold biscuits through valid purchase documents. The judgment reinforced the principle that possession of foreign marked gold in India does not inherently indicate smuggling, especially in the absence of evidence linking the gold to illicit activities. Case-Laws Customs Fri, 21 Aug 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=266858