https://www.taxtmi.com/caselaws?id=780291 CESTAT KOLKATA - AT held that the record lacked cogent evidence proving the gold bars were of foreign origin or smuggled; officers did not form the requisite reasonable belief and markings/documentary proof were absent. Accordingly, the presumption under s.123 of the Customs Act could not be invoked and the onus did not shift to the appellants, who did not claim ownership. Penalties under s.112(b)(i) were found unsustainable and set aside; the appeal was allowed and orders imposing penalty quashed. en-us Wed, 17 Sep 2025 00:00:00 +0530 Tue, 28 Oct 2025 08:33:50 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=780291 CESTAT KOLKATA - AT held that the record lacked cogent evidence proving the gold bars were of foreign origin or smuggled; officers did not form the requisite reasonable belief and markings/documentary proof were absent. Accordingly, the presumption under s.123 of the Customs Act could not be invoked and the onus did not shift to the appellants, who did not claim ownership. Penalties under s.112(b)(i) were found unsustainable and set aside; the appeal was allowed and orders imposing penalty quashed. Case-Laws Customs Wed, 17 Sep 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=780291