2024 (10) TMI 410

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....d learned counsel for the D.R.I. 2. The petitioner seeks bail in connection with Economic DRI, Patna Case No. 20(O) of 2024, arising out of Unit Case No. 29 of 2023-24 dated 28.02.2024 registered for the offences punishable under Sections 135(1)(a) and 135(1)(b) of the Customs Act. 3. As per the prosecution case, a written complaint has been filed by the Directorate of Revenue Intelligence, Regional Unit, Patna, on a confidential information regarding smuggling of Foreign Origin Gold. On 27.02.2024 at around 10:26 P.M., the officers of the DRI, Patna, intercepted three persons at Patna Railway Junction. It is further alleged that on interrogation, Shri Kaushal Yadav (petitioner) admitted the possession of smuggled Gold bullion of foreign ....

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....dred and Eighty Five Only). It is further alleged that the statement of the co-accused and Shri Kaushal Yadav (petitioner) recorded under section 108 of the Customs Act, 1962, wherein the petitioner Shri Kaushal Yadav admitted that he was the owner of the seized gold bullions. The petitioner Shri Kaushal Yadav along with the co-accused Deepak Kumar and Upendra Manjhi went to Malda to bring the smuggled gold of foreign origin. All three accused persons admitted their involvement in smuggling activity of foreign origin gold in lure of money. 4. Learned counsel for the petitioner has submitted that the petitioner is innocent and has falsely been implicated in this case. It is further submitted that the petitioner has a jewellery shop at Bakar....

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....99 of 2024 under order dated 27.08.2024. It is further submitted that the said gold was liable for confiscation under Section 111 of the Customs Act and as per Section 125 of the Customs Act, the authority may levy fine in lieu of confiscation and, therefore, it appears from the provisions of Section 11 of the Customs Act, gold is not prohibited goods but it is restricted goods and as per Section 125 of the Customs Act in lieu of confiscation fine may be levied. Therefore, as import of gold is not prohibited but restricted subject to prescribed payment of duty, thus alleged recovery of gold is not prohibited goods under Section 2(33) of the Customs Act but it is restricted goods in view of the judgment of three Judges Bench of the Apex Cour....