TaxTMI 
TaxTMI 
2025 (5) TMI 1623
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....r Ashok Jindal : The appellants are in appeal against the impugned order wherein during the course of investigation, 12 pieces of gold bars have been absolutely confiscated and penalties have been imposed on the appellants. 2. The facts of the case are that in pursuance to specific information the DRI intercepted the Appellant No.(2) & (3) on 27.03.2019 while they were moving towards Kali Krishana Tagore Street, Kolkata at about 3 pm. 2.1 Shri Santosh Kumar Shah voluntarily took out Six (6) pcs. of yellow colour metal bars belief to be gold of foreign origin wrapped with adhesive tapes from his right hand's fist, and Shri Prakash Kumar Sah took out six pcs. of yellow colour metal bars belief to be gold of foreign origin wrapped with adh....
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....lant No.(3) to carry gold. 2.7 For further investigation, the Appellant No.(4), Proprietor of M/s Rahul Jewellers, submitted a letter dated 20.05.2019 showing stock as on 26.03.2019 as 2089.677 gm, income tax return along with balance sheet and profit and loss account for the period 2017-18 and 2018-19, trade licence of M/s Rahul Jewellers, GSTR-4 for the period 2018-19 and inter alia, stated that 12 pieces of gold totally weighing 1992 gms have been allegedly seized from the possession of Appellant Nos.(2) & (3) and were purchased by his firm under payment of GST and given the same to the Appellant No.(3) for selling in the market. It was also stated that the Appellant No.(4) initially given to the Appellant No.(3)20-25 cut pieces of gold....
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.... that circumstances, in any stretch of imagination, it cannot be said that the gold in question of foreign origin. Moreover, the Revenue has failed to produce any documents that the gold in question is of foreign origin. There is no reasonable belief under Section 110 of the Customs Act, 1962, to show that the gold is of foreign origin. He further submitted that the Appellant No.(4) has claimed to be owner of the gold seized in question and produced the relevant documents for procurement of the said gold by the Appellant No.(4), like, Income Tax Return, Balance Sheet, Profit and Loss Account, Commercial Tax Challan and payment of GST on the said gold in question along with invoices. In that circumstances, it is prayed that the impugned orde....