Unauthorized Gold Imports Confiscated u/s 111(d); Only Notified Agencies Can Legally Import Foreign-Marked Gold Bars.

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....Confiscation - Foreign marked gold bars - Unless this condition of the import (only by a notified agency) is fulfilled, gold is a prohibited good. The appellant also does not dispute that the gold can be imported only by the nominated agencies. If gold is imported by anyone else, it will be prohibited goods. - The gold bars and piece of gold were correctly held liable for confiscation under section 111(d) by the adjudicating authority - AT....