https://www.taxtmi.com/caselaws?id=752476 CESTAT Kolkata allowed appeals partially in a gold smuggling case. The tribunal set aside confiscation of Indian currency worth Rs.46,00,000 and penalties on first two appellants due to lack of evidence linking them to smuggling activities. However, penalties on third and fourth appellants were upheld but reduced to Rs.5,00,000 each, as they were found in possession of 2.625 kg gold without valid import documents. The tribunal distinguished between prohibited and restricted goods, noting smuggled gold warranted lesser penalties than initially imposed. en-us Thu, 09 May 2024 00:00:00 +0530 Sat, 11 May 2024 08:35:05 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=752476 CESTAT Kolkata allowed appeals partially in a gold smuggling case. The tribunal set aside confiscation of Indian currency worth Rs.46,00,000 and penalties on first two appellants due to lack of evidence linking them to smuggling activities. However, penalties on third and fourth appellants were upheld but reduced to Rs.5,00,000 each, as they were found in possession of 2.625 kg gold without valid import documents. The tribunal distinguished between prohibited and restricted goods, noting smuggled gold warranted lesser penalties than initially imposed. Case-Laws Customs Thu, 09 May 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=752476