https://www.taxtmi.com/caselaws?id=393782 The appeals centered on the legitimacy of the seizure and confiscation of 59 gold bars under the Customs Act. The Tribunal ruled in favor of the appellant, finding that the gold bars were legally procured from a jeweler who had obtained them from a bank. Despite inconsistencies in the evidence, the Tribunal concluded that the Revenue failed to establish that the seized gold differed from the lawfully acquired gold. Consequently, the confiscation orders were overturned, and the penalties imposed under the Customs Act were annulled, allowing the appellants to reclaim the seized gold and vehicle. en-us Fri, 20 Mar 2020 00:00:00 +0530 Mon, 23 Mar 2020 11:16:38 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=393782 The appeals centered on the legitimacy of the seizure and confiscation of 59 gold bars under the Customs Act. The Tribunal ruled in favor of the appellant, finding that the gold bars were legally procured from a jeweler who had obtained them from a bank. Despite inconsistencies in the evidence, the Tribunal concluded that the Revenue failed to establish that the seized gold differed from the lawfully acquired gold. Consequently, the confiscation orders were overturned, and the penalties imposed under the Customs Act were annulled, allowing the appellants to reclaim the seized gold and vehicle. Case-Laws Customs Fri, 20 Mar 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=393782