2023 (11) TMI 271

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.... 19th October, 2023 whereby the Respondents have attached following bank accounts of the Petitioners with Kotak Mahindra Bank, Jaipur under Section 110(5) of the Customs Act, 1962. The details of the Bank Accounts are as under :- S. No. Name of the Party Pan number Account Number 1. Kaka Gold AAGHB8014F1ZL 5811847882 2. Kaka Silver AFHPP5473L1ZT 2413111168 3. Kaka Gold LLP AAZFK3711H1ZZ 2120787999 4. Shri Bharat Fatehlal Parmar (Saving A/c)   1412625065 3. BRIEF FACTS ARE AS UNDER :- The Petitioners are engaged in the business of buying and selling gold. On 20th September 2023, the office premises of the Petitioners were searched and Panchnama drawn. Thereafter the state....

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....ore, the attachment is bad in law. 7. On the other hand, the Respondents submits that during the period of 2017 to 2022, the Petitioners have entered into various transactions with M/s. SL Creation, M/s. Tanvi Gold Private Limited and M/s. Gyanesh Jewel Gold, Mumbai and these entities have been found to be non-existent and therefore, the purchase made by the petitioners from these parties are doubtful. The Respondents have taken us through the Affidavit in reply to allege the chain in which M/s. SL Creation, M/s. Tanvi Gold Private Limited and M/s. Gyanesh Jewel Gold, Mumbai are involved and since the Petitioners have purchased the gold from these parties, it is alleged that the Petitioners are also involved in this chain and therefore, ....