2000 (2) TMI 645

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.... V.K. Choubey, JDR, for the Respondent. [Order per : Gowri Shankar, Member (T)]. -  This appeal is against the order of the Collector (Appeals) confirming the order of the Addl. Collector of Customs ordering confiscation under Section 121 of the Act of Rs. 12 lakhs seized from the possession of the appellant and imposing on him penalty under Section 112 of the Act. 2. We have he....

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....ale of some smuggled silver and asked him (Vyas) to keep these money for some time for a commission of 0.1%. 4. This statement itself was retracted five days later. The retraction is somewhat suspect on the ground of the delay. However, even going by the statement, there is insufficient basis that the currency was the sale proceeds of the smuggled gold. Bharatbhai or B.T. was not found by ....

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....e appellant, and there was no claimant to the currency, certainly raises many questions. It is not unreasonable to conclude, as the departmental representative suggests, that the money is not legally accounted for or may have been acquired by some unlawful means. However that alone is not sufficient to conclude that it must be the sale proceeds of smuggled gold. Decisions of the Tribunal have gone....