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2012 (9) TMI 939 - CALCUTTA HIGH COURTRestriction on operation of Bank Account - Duty Drawback - Held that: - Section 121 of the Customs Act on which reliance was placed by Mr. Dey provides that where any smuggled goods are sold by a person having knowledge or reason to believe that the goods are smuggled goods, the sale proceeds thereof shall be liable to confiscation - The section can only be invoked on a specific finding that smuggled goods have been sold. Operations can only be prevented in respect of the sale proceeds of smuggled goods. In this case there is admittedly no adjudication as yet. The petitioner be allowed to operate his bank accounts - application disposed off.
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