Home Case Index All Cases Customs Customs + AT Customs - 2018 (3) TMI AT This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2018 (3) TMI 32 - AT - CustomsSmuggling - Gold bars - seizure of cash and gold bars - confiscation - Held that: - The gold, which was seized as per the stock register on 29.04.2014 is matching as in the closing stock gold weighing 14675.082 gm was available. Thus, the gold weighing 510.220 gm is explained. In the jewellery shop, a cash of ₹ 9,35,900/- is not unusual which is the sale proceeds. Thus, we are of the opinion that the seized gold and cash is not liable to confiscation being duly accounted. The seized cash has nothing to do with the seizure of the gold bars. The seized cash is duly accounted for and cannot be considered as the sale proceeds of the smuggled gold - Regarding seized gold, it was also reflected in the stock register and hence there is no justification to seize the gold. So, the gold of 510.220 gms. valued at ₹ 15,45,966/- released and also the cash of ₹ 9,35,900/- in favour of the owner of M/s Kunal Jewellers. Appeal allowed in part.
|