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2024 (2) TMI 1143 - CESTAT KOLKATAConfiscation of the gold and imposed penalties on various noticee - activity of buying and selling of gold and jewellery -legitimate Or Not - Seized 12 gold bars weighing 11990.82 gms - HELD THAT:- In this particular case, it is seen from the records that no such opportunity was given to the Appellant though they have made specific request to this effect. Therefore, we find that principles of natural justice has not been followed by the Adjudicating Authority. The Appellant has produced voluminous records of their ledgers, invoices, copies of Banking transactions etc. to prove that they were carrying legitimate activity of buying and selling of gold and jwellery. These documents have to be properly verified before any conclusion can be arrived at as to whether the seized Golds have the backing of proper licit documents or not. Therefore, we remand the matter to the Adjudicating Authority with the following directions - After following the principles of natural justice, the Adjudicating Authority will pass a considered decision.
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