https://www.taxtmi.com/caselaws?id=358126 The Tribunal upheld the order for absolute confiscation of two gold bars of foreign origin and reduced the penalty imposed on each appellant from Rs. 3,00,000 to Rs. 50,000 under Section 112 of the Customs Act, 1962. The appellants failed to prove licit procurement or payment of customs duty, leading to the conclusion that the gold was not bona fide baggage. The Tribunal emphasized the burden of proof on the appellants and considered legal precedents cited by both parties but found them inapplicable to the case's specific circumstances. en-us Wed, 04 Apr 2018 00:00:00 +0530 Sat, 16 Mar 2019 14:40:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=358126 The Tribunal upheld the order for absolute confiscation of two gold bars of foreign origin and reduced the penalty imposed on each appellant from Rs. 3,00,000 to Rs. 50,000 under Section 112 of the Customs Act, 1962. The appellants failed to prove licit procurement or payment of customs duty, leading to the conclusion that the gold was not bona fide baggage. The Tribunal emphasized the burden of proof on the appellants and considered legal precedents cited by both parties but found them inapplicable to the case's specific circumstances. Case-Laws Customs Wed, 04 Apr 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=358126