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2023 (11) TMI 425 - CESTAT HYDERABADSmuggling - Absolute confiscation of 22 numbers of gold bars - levy of penalty u/s 112(b)(i) of the Customs act - match with respect to the serial numbers on the gold biscuits - HELD THAT:- It is found that it is evident from the facts apparent in the show cause notice, that the serial numbers of the 22 gold biscuits are covered within the 40 kg gold purchased by DP Gold Pvt Ltd., Chennai from MMTC-PAMP India Pvt Ltd., and there after they had sold the gold to other dealers/ other jewellers. Thus, the allegation of smuggled nature of gold in question, does not stand - it is further held that the gold in question is not smuggled in nature. The gold in question has already been sent to appropriate Government Authority for re-sale and or melting by the Government. Accordingly, the Revenue is directed either to return the gold to the appellant - M Sunil Kumar, or to pay the value, amount of gold as valued on the date of sale/melting with interest as per rules. Appeal allowed.
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