TaxTMI 
TaxTMI 
2001 (4) TMI 102
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....brand name "Credit Suisse is correct in law, in the light of the Petitioner's claim that it had shown that the gold that was seized was minted in Switzerland and the minting of gold therein was by "Credit Suisse"? 2. Whether the Tribunal has erred in directing confiscation of silver ingots on the sole ground that there is difference in weight when the difference is relatively small being about 3 Kgs. while the total quantity of the silver seized is 234.904 Kgs? 2.Brief facts are as follows :- On 19-3-1993, acting on information the Officers attached to Intelligence Unit, Custom House, Madras searched the residential premises of one Shri A. Kabeer at No. 22, Vengupillal Street, Egmore, Madras-8 and recovered 42 Nos. gold bars of 10 Tolas ....
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....zar was preferred for the seizure of Gold and silver on 19-3-1993 and the silver bars were further checked by the Respondent to find out as to whether it contains any gold mix. Based upon the materials available the respondent sent a show cause notice to the Petitioner on 14-9-1993 to which a reply was given by him on 26-9-1993 and there was exchange of notice between the Petitioner and the Respondent. After having heard the Petitioner, an Order came to be passed by the Collector of Customs, Madras on 17-2-1994 confiscating the gold bars and 6 Nos. of Silver ingots, total value of Rs. 33,94,174/-. 3.As against the abovesaid Order, the Petitioner preferred an appeal before the Customs, Excise and Gold (Control) Appellate Tribunal (CEGAT), M....
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....in his statement itself has stated that one Shamsudeen imported the gold bars on 6-2-1993 through Madras Air Port on payment of duty under baggage receipt No. 14920 dated 6-2-1993 and the said receipt was also produced by the Petitioner. The Petitioner also produced the baggage receipts, three in number for the valid import of silver ingots. Possession of Indian currency to any value is not an offence, unless it is not explained when called upon by the Income Tax Authorities. As such, gold and silver seized from the petitioner are not liable for confiscation under Section 111(d) of the Customs Act, 1962 read with Section 3(3) of the Foreign Trade (Development & Regulation) Act, 1992. Reference was also made to the statement obtained from Sh....
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....authorities are not proper. He has further submitted that the gold bar seized bear the markings Credit Suisse and the baggage receipts produced by the petitioner bear the mark suisse only, but both are manufactured by one and the same company. In support of his contention, he has pointed out from the book Gold Refiners and Bars Worldwide authored by Nigel Desebrock at Page No. 203 that one P.A. MPSA of Switzerland was manufacturing gold with the marking Suisse. In 1967 when Valcambi S.A. became a subsidiary of Credit Suisse, a comprehensive range of 6 cast and is minted bars were launched, and they have launched the gold bars under the marking Credit Suisee. 7.The gold bars seized from the Petitioner carry the marking Credit Suisse and the....
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....ned Senior Advocate is trying to make out a case that gold bars/biscuits with the marks Suisse and Credit Suisse are manufactured by one and the same Company and the Officer, who has raised the baggage receipt, has not chosen to write the full description of the marks in the gold bars imported by Shamsudeen and simply written as Suisse, which has resulted in seizure. The baggage receipt dated 6-2-1993 produced by the Petitioner tallies with the claim made by the petitioner that 42 numbers of gold bar was imported by Shamsudeen after having paid necessary duty and therefore, according to Counsel, the said gold bars were not smuggled into India as contended by the Respondent. With regard to Silver bars seized, it is contended that the differe....
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.... round in the gold bar in the receipt. Only in the said circumstances, the receipt under which customs duty paid was not properly prepared, for that matter, it cannot be said that gold imported by Shamsudeen and seized from the Petitioner were illicit in nature. Though the said argument of the Petitioner appears to be attractive, it is not convincing for the reason that the person who imports gold bars totalling 42 in number and worth of several lakhs, with an intention to sell for higher price in India, has not demanded the concerned authorities to prepare the custom duty paid receipts according to the contents of the gold bars is not acceptable. A company, may manufacture gold under different names, but the question is whether the receipt....