https://www.taxtmi.com/caselaws?id=445532 CESTAT Kolkata dismissed revenue appeals in gold seizure cases. The Tribunal held that customs authorities failed to establish reasonable belief that seized gold bars with Swastika symbols were smuggled goods. Despite foreign origin markings, revenue could not provide corroborative evidence proving smuggling from Bangladesh. The gold's 99.5% purity and absence of foreign embossing marks, combined with lack of concrete evidence, meant seizure under Section 110 of Customs Act 1962 was unjustified. Confiscation and penalties were set aside due to insufficient proof of smuggling. en-us Fri, 03 Nov 2023 00:00:00 +0530 Wed, 24 Apr 2024 14:41:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=445532 CESTAT Kolkata dismissed revenue appeals in gold seizure cases. The Tribunal held that customs authorities failed to establish reasonable belief that seized gold bars with Swastika symbols were smuggled goods. Despite foreign origin markings, revenue could not provide corroborative evidence proving smuggling from Bangladesh. The gold's 99.5% purity and absence of foreign embossing marks, combined with lack of concrete evidence, meant seizure under Section 110 of Customs Act 1962 was unjustified. Confiscation and penalties were set aside due to insufficient proof of smuggling. Case-Laws Customs Fri, 03 Nov 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=445532