https://www.taxtmi.com/caselaws?id=449673 CESTAT Ahmedabad set aside confiscation of seven gold bars with foreign markings, ruling that foreign markings alone cannot establish smuggled nature without evidence the markings were placed by foreign companies in ordinary business course. The tribunal held that even if gold bars were of foreign origin, this doesn't prove smuggling since gold import isn't absolutely prohibited and legally imported gold is available domestically. Confiscation of nine additional gold bars under section 119 was also overturned as no concealment was proven. The associated Hyundai Verna car confiscation was similarly set aside. All fines and penalties were quashed, with the appeal allowed entirely. en-us Thu, 15 Feb 2024 00:00:00 +0530 Fri, 16 Feb 2024 12:40:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=449673 CESTAT Ahmedabad set aside confiscation of seven gold bars with foreign markings, ruling that foreign markings alone cannot establish smuggled nature without evidence the markings were placed by foreign companies in ordinary business course. The tribunal held that even if gold bars were of foreign origin, this doesn't prove smuggling since gold import isn't absolutely prohibited and legally imported gold is available domestically. Confiscation of nine additional gold bars under section 119 was also overturned as no concealment was proven. The associated Hyundai Verna car confiscation was similarly set aside. All fines and penalties were quashed, with the appeal allowed entirely. Case-Laws Customs Thu, 15 Feb 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=449673