Penalty Overturned Due to Lack of Evidence on Gold Bar Origin Under Customs Act Smuggling Case.

Penalty Overturned Due to Lack of Evidence on Gold Bar Origin Under Customs Act Smuggling Case. https://www.taxtmi.com/highlights?id=74630 Levy of penalty u/s 112 (b) (ii) of the Customs Act, 1962 - smuggling of Gold Bars - Allegation that goods were bought from Myanmar without proper documents - The tribunal held that, in the instant case the inscriptions as embossed on the recovered gold bars clearly demonstrates that they have been manufactured in a foreign country”. The seizure Report and the SCN do not speak any such inscription. Therefore, this finding of the Adjudicating Authority is not backed by any documentary evidence whatsoever. - No Penalty. en-us Mon, 05 Feb 2024 17:11:18 +0530 Mon, 05 Feb 2024 17:11:18 +0530 TaxTMI RSS Generator Penalty Overturned Due to Lack of Evidence on Gold Bar Origin Under Customs Act Smuggling Case. https://www.taxtmi.com/highlights?id=74630 Levy of penalty u/s 112 (b) (ii) of the Customs Act, 1962 - smuggling of Gold Bars - Allegation that goods were bought from Myanmar without proper documents - The tribunal held that, in the instant case the inscriptions as embossed on the recovered gold bars clearly demonstrates that they have been manufactured in a foreign country”. The seizure Report and the SCN do not speak any such inscription. Therefore, this finding of the Adjudicating Authority is not backed by any documentary evidence whatsoever. - No Penalty. Highlights Customs Mon, 05 Feb 2024 17:11:18 +0530 https://www.taxtmi.com/highlights?id=74630