TaxTMI 
TaxTMI 
2023 (7) TMI 1130
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....the Department ORDER ASHOK JINDAL The appellant is in appeal against the impugned order wherein penalty of Rs. 5 lakh has been imposed under Section 112, 114, 114A, 114AA of the Customs Act, 1962 r/w Section 13 of the Foreign Exchange Management Act, 1999. 2. The facts of the case are that on 28.08.2013 one Mrs. Zukhra Baltabaeva was to depart from IGI Airport, New Delhi to Bishkek, she was....
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....a jewellery shop owned by Mr. Ravinder Suri and his two sons Shri Sahil and Sumit, she collected the payment for selling of the said gold on 19.08.2017 amounting to US $ 1,97,900 and the recovered foreign currency belonged to her, during her last visit on 21.07.2017, she approached the said jewelers and they readily agreed to buy the same. 3. On the basis of the statement of Mrs. Zukhra, Customs ....
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....d purchased 4373 gms gold from Ms. Zukhra on 18.08.2017 and requested her to collect money either in foreign currency or Indian currency on 19.08.2017, thereafter he approached to the appellant. Owner of M/s OC Jewellers, Karol Bagh, New Delhi, who sent his worker to receive the gold alongwith payment in Indian rupees and he arranged US$ for Amardeep Singh Duggal, a money exchanger in Paharganj, o....
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....ords, it is coming on that the two ladies who were visiting India from Krgyzthan have stated that they have brought gold India through illicit means and the same was sold to one Shri Ravinder Suri, who in turn sold the gold to the appellant but neither the appellant has admitted that he have purchased the gold from Sh. Ravinder Suri nor any other corroborative evidence is available on record to pr....