https://www.taxtmi.com/caselaws?id=50059 The Tribunal ruled in favor of the appellants, who were involved in manufacturing gold chains and found with foreign marked gold and gold chains. The Customs alleged liability to confiscation under Section 123 of the Customs Act, but the appellants successfully demonstrated the lawful acquisition of the gold. The Tribunal set aside the confiscation orders and penalties, as the Customs failed to establish a reasonable belief for confiscation. The appellants' appeals were allowed, and consequential reliefs were granted. en-us Thu, 28 Sep 2000 00:00:00 +0530 Thu, 19 Aug 2010 15:14:41 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=50059 The Tribunal ruled in favor of the appellants, who were involved in manufacturing gold chains and found with foreign marked gold and gold chains. The Customs alleged liability to confiscation under Section 123 of the Customs Act, but the appellants successfully demonstrated the lawful acquisition of the gold. The Tribunal set aside the confiscation orders and penalties, as the Customs failed to establish a reasonable belief for confiscation. The appellants' appeals were allowed, and consequential reliefs were granted. Case-Laws Customs Thu, 28 Sep 2000 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=50059