https://www.taxtmi.com/caselaws?id=440318 The Tribunal ruled in favor of the appellants, setting aside the confiscation of gold and rejecting the imposition of penalties. It was held that without evidence of smuggling, confiscation was not justified. The gold, seized in a town without foreign markings and lower purity than foreign gold, did not meet the criteria for confiscation. The statements recorded were deemed unreliable, and the Revenue failed to prove its case, leading to the release of the gold and no penalties imposed on the appellants. en-us Wed, 12 Jul 2023 00:00:00 +0530 Fri, 14 Jul 2023 17:17:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=440318 The Tribunal ruled in favor of the appellants, setting aside the confiscation of gold and rejecting the imposition of penalties. It was held that without evidence of smuggling, confiscation was not justified. The gold, seized in a town without foreign markings and lower purity than foreign gold, did not meet the criteria for confiscation. The statements recorded were deemed unreliable, and the Revenue failed to prove its case, leading to the release of the gold and no penalties imposed on the appellants. Case-Laws Customs Wed, 12 Jul 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=440318