https://www.taxtmi.com/caselaws?id=356329 Gold found concealed on carriers' persons, bearing foreign-origin markings and unsupported by satisfactory purchase documents, was treated as smuggled; confiscation of the 14 gold bars and the related penalties on the carriers and claimed owner were sustained. By contrast, gold weighing 510.220 grams and cash recorded in the business stock register and cash book were held to be accounted for in the ordinary course of trade, so confiscation was set aside. The penalty on the other noticees was retained for non-cooperation but reduced as excessive on the facts. en-us Wed, 21 Feb 2018 00:00:00 +0530 Sat, 22 Jun 2019 12:02:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=356329 Gold found concealed on carriers' persons, bearing foreign-origin markings and unsupported by satisfactory purchase documents, was treated as smuggled; confiscation of the 14 gold bars and the related penalties on the carriers and claimed owner were sustained. By contrast, gold weighing 510.220 grams and cash recorded in the business stock register and cash book were held to be accounted for in the ordinary course of trade, so confiscation was set aside. The penalty on the other noticees was retained for non-cooperation but reduced as excessive on the facts. Case-Laws Customs Wed, 21 Feb 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=356329