https://www.taxtmi.com/caselaws?id=772755 CESTAT Kolkata set aside absolute confiscation of gold and penalties imposed on appellants for alleged illegal importation under Foreign Trade Act, 1992 and Customs Act, 1962. The Tribunal found proceedings unsustainable due to absence of Panchnama during seizure, creating doubt about genuineness of proceedings. Appellant demonstrated licit procurement of gold from supplier. Additionally, supplier was not made party to Show Cause Notice, precluding penalty imposition. Gold ordered released to appellant claiming ownership. Appeal allowed, impugned order set aside. en-us Wed, 11 Jun 2025 00:00:00 +0530 Thu, 12 Jun 2025 11:05:03 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=772755 CESTAT Kolkata set aside absolute confiscation of gold and penalties imposed on appellants for alleged illegal importation under Foreign Trade Act, 1992 and Customs Act, 1962. The Tribunal found proceedings unsustainable due to absence of Panchnama during seizure, creating doubt about genuineness of proceedings. Appellant demonstrated licit procurement of gold from supplier. Additionally, supplier was not made party to Show Cause Notice, precluding penalty imposition. Gold ordered released to appellant claiming ownership. Appeal allowed, impugned order set aside. Case-Laws Customs Wed, 11 Jun 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=772755