https://www.taxtmi.com/caselaws?id=464232 Foreign-marked gold attracted the statutory burden under Section 123 of the Customs Act, requiring the claimant to prove licit acquisition to defeat confiscation and penalties. The majority found that purchase invoices, banking records, ledger entries, and the seller's supporting statement and records sufficiently established lawful purchase, while the Revenue failed to produce specific adverse evidence disproving those documents or proving smuggled origin. On that basis, the burden was held discharged in favour of the claimant, and confiscation and consequential penalties were unsustainable. A dissenting view would have treated the delayed claim and retracted statements as inadequate, but it did not prevail. en-us Wed, 21 Feb 2024 00:00:00 +0530 Mon, 13 Oct 2025 14:04:32 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=464232 Foreign-marked gold attracted the statutory burden under Section 123 of the Customs Act, requiring the claimant to prove licit acquisition to defeat confiscation and penalties. The majority found that purchase invoices, banking records, ledger entries, and the seller's supporting statement and records sufficiently established lawful purchase, while the Revenue failed to produce specific adverse evidence disproving those documents or proving smuggled origin. On that basis, the burden was held discharged in favour of the claimant, and confiscation and consequential penalties were unsustainable. A dissenting view would have treated the delayed claim and retracted statements as inadequate, but it did not prevail. Case-Laws Customs Wed, 21 Feb 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=464232