https://www.taxtmi.com/caselaws?id=800711 Gold seized in a town setting may attract the Section 123 presumption only after an objectively sustainable reasonable belief, based on case-specific evidence, that it is of foreign origin and illicitly imported. Suspicion arising from concealment, missing documents, general smuggling intelligence, or border proximity does not establish those facts. Stock records, purchase invoices, financial records, and evidence of melting old jewellery may support licit acquisition where not effectively disproved. A retracted statement cannot establish smuggling or penalty liability without independent corroboration and compliance with Section 138B safeguards. In the absence of such proof, confiscation and penalties are unsustainable. en-us Thu, 08 Oct 2026 00:00:00 +0530 Sat, 10 Oct 2026 08:32:36 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=800711 Gold seized in a town setting may attract the Section 123 presumption only after an objectively sustainable reasonable belief, based on case-specific evidence, that it is of foreign origin and illicitly imported. Suspicion arising from concealment, missing documents, general smuggling intelligence, or border proximity does not establish those facts. Stock records, purchase invoices, financial records, and evidence of melting old jewellery may support licit acquisition where not effectively disproved. A retracted statement cannot establish smuggling or penalty liability without independent corroboration and compliance with Section 138B safeguards. In the absence of such proof, confiscation and penalties are unsustainable. Case-Laws Customs Thu, 08 Oct 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=800711