TaxTMI 
TaxTMI 
1988 (8) TMI 241
X X X X Extracts X X X X
X X X X Extracts X X X X
....opal Hegde, Member (J)]. - This appeal arises out of and is directed against the order in original bearing No. XVII (GC) S-Adj/371/81 dated 9-2-1983 passed by the Collector of Central Excise & Customs, Pune. 2. The subject of challenge in this appeal is the absolute confiscation of gold ornaments weighing 132.800 gms. and the penalty of Rs. 5000/-. 3. Shri Solanki appearing for the appellant v....
X X X X Extracts X X X X
X X X X Extracts X X X X
.... were found in one tin trunk which was kept in the business premises of the appellant. He further admitted that during interogation the appellant had admitted that he has been transacting business in gold without gold dealers' licence in the very same premises. But then it was not to the extent of Rs. six lakhs as stated In the Collector's order but was only to the extent of Rs. 1.5 lakhs. 4. Aft....
X X X X Extracts X X X X
X X X X Extracts X X X X
....gold which was acquired or sold by a person who did not hold gold dealers licence above are liable to confiscation and not all gold found in the business premises The arguments appears attractive. If this argument Is to be accepted the person who carries on gold dealer business without obtaining a licence will be placed in an advantage position; vis a vies the licensed dealer. What is sold by the ....