https://www.taxtmi.com/caselaws?id=45612 The Court held that the Additional Collector's interpretation of "silver bullion" was unjustified. The seized articles were not considered "silver bullion" in trade, as evidenced by expert testimony. The confiscation order and penalties imposed were set aside, and the seized articles were directed to be returned to the Petitioners. The Income Tax Department was allowed to proceed with tax recovery actions. en-us Tue, 12 Sep 1978 00:00:00 +0530 Mon, 12 Jul 2010 17:46:52 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=45612 The Court held that the Additional Collector's interpretation of "silver bullion" was unjustified. The seized articles were not considered "silver bullion" in trade, as evidenced by expert testimony. The confiscation order and penalties imposed were set aside, and the seized articles were directed to be returned to the Petitioners. The Income Tax Department was allowed to proceed with tax recovery actions. Case-Laws Customs Tue, 12 Sep 1978 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=45612