https://www.taxtmi.com/caselaws?id=751201 Seized gold without foreign markings, found in bar, rod and bit form, was held not to establish smuggled origin by itself. The Revenue relied mainly on interception statements that were later retracted, but produced no independent evidence and did not examine the witnesses whose statements were used. The appellants, by contrast, produced business records and stock documents supporting the source and movement of the gold, corroborated by smelter statements. On that basis, the statutory presumption was treated as rebutted, and confiscation and penalties were considered unsustainable. en-us Mon, 08 Apr 2024 00:00:00 +0530 Tue, 09 Apr 2024 12:12:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=751201 Seized gold without foreign markings, found in bar, rod and bit form, was held not to establish smuggled origin by itself. The Revenue relied mainly on interception statements that were later retracted, but produced no independent evidence and did not examine the witnesses whose statements were used. The appellants, by contrast, produced business records and stock documents supporting the source and movement of the gold, corroborated by smelter statements. On that basis, the statutory presumption was treated as rebutted, and confiscation and penalties were considered unsustainable. Case-Laws Customs Mon, 08 Apr 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=751201