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2012 (9) TMI 642 - AT - CustomsImport of 30 pieces of gold biscuits - foreign marked gold bars seized – Held that:- No reliable evidence has been led before us to conclude that the baggage receipt pertained to the goods under seizure - gold is a commodity whose value has appreciated substantially over the time period involved in this case and if any redemption is allowed at this juncture, it would lead to an anomalous situation wherein the appellant would make a windfall gain rather than facing penal consequences for their omissions and commissions - goods under seizure are “prohibited goods” as defined under Section 2(33) of the said Customs Act read Section 11 - order of the Commissioner absolutely confiscating 30 gold biscuits of foreign origin under Section 111(d) of the Customs Act, 1962 upheld Regarding confiscation of Indian Currency – Held that:- These were the sale proceeds of smuggled foreign marked gold biscuits supplied to Shri Ramdas Satpute. Therefore, they are also liable to confiscation under Section 121 of the Customs Act, 1962
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