TaxTMI 
TaxTMI 
1987 (7) TMI 243
X X X X Extracts X X X X
X X X X Extracts X X X X
....ight in rejecting the claim of the Applicant that gold under seizure belongs to 14 persons who gave Gold ornaments for manufacture of new ornaments and when proper entries were made in G.S. 13 register? (2) Whether on the facts and circumstances of the case the Appellate Tribunal was justified in upholding the order of confiscation for alleged contravention of provisions of Section 8(1) of the Gold (Control) Act when the petitioner is admittedly a goldsmith and he can possess primary gold? (3) Whether on the facts and circumstances of the case, the Appellate Tribunal was justified in upholding the confiscation of entire primary gold when the petitioner as goldsmith is entitled to possess 300 gms. of primary gold under Section 42 of the Go....
X X X X Extracts X X X X
X X X X Extracts X X X X
....ied Goldsmith, would be entitled to possess 300 grams of primary gold and therefore, the confiscation of the same under the impugned order is bad in law and a question of law would arise in regard to the same. The learned Counsel submitted in regard to Question No. 4 & 5 referred to above that the Tribunal has not properly exercised the discretion and the quantum of fine and penalty imposed is harsh and excessive and a question of law could be spelt out in this regard. The learned Counsel further submitted that the reliance placed by the Tribunal under the impugned order on the retracted uncorroborative statement of the appellant is not legal and a question of law would arise in this respect also. 3. We have carefully considered the s....
X X X X Extracts X X X X
X X X X Extracts X X X X
.... person article or ornament for making, manufacturing or preparing ornament for such person and shall not, save as otherwise provided in the Act, buy or agree to buy or sell or agree to sell primary gold or ornament. Section 40 also stipulates that a certified goldsmith may, in the process of making, manufacturing, preparing or repairing ornaments, make, manufacture or prepare primary gold provided the same is authorised by the Administrator so to do. Section 8 of the Act clearly states that no person shall own or have in his possession custody or control or acquire or accept or receive any primary gold except as otherwise provided for in the Act. A conjoint reading of the aforesaid Sections clearly stipulates the circumstances under which ....