TMI Blog2016 (6) TMI 911X X X X Extracts X X X X X X X X Extracts X X X X ..... that the gold and cash confiscated were not smuggled goods/sale proceeds of smuggled goods. - the confiscation is unjustified - Decided in favor of appellant. - Appeal No. C/30007/2015 & 30008/2015 - - - Dated:- 19-5-2016 - Ms. Sulekha Beevi, C.S. Member ( Judicial ) And Mr. Madhu Mohan Damodhar, Member ( Technical ) Shri A. K. Jairaj, Advocate for the Appellant Shri H. M. Dixit, AR for the Respondent ORDER [ Order per Madhu Mohan Damodhar ] 1. The facts of the case are that foreign marked gold biscuits weighing approximately 2409.639 gms, gold ornaments weighing approximately 566.690 gms, and a cash ₹ 95.25 lakhs were seized from one Nagendra Prabhu, one of the appellants herein, at Vijayawada while travell ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... and absolutely confiscating Gold Ornaments, weighing 566.660 grams, valued at ₹ 14,267,982/- and absolutely confiscating Gold Cut Pieces, weighing 709.550 grams, valued at ₹ 19,15,785/-, and further absolutely confiscating a sum of ₹ 95,25,000/- Indian Currency under Section 111 read with Section 121 of the Customs Act, 1962 and imposing a penalty of ₹ 5,00,000/- under Section112 of Customs Act and ₹ 10,000/- under Section 117 of the Customs Act on the appellant, in so far as the appellant is concerned, in its entirety and to pass an order of direction, ordering to release 15 foreign marked gold biscuits, weighing 1500 grams, valued at ₹ 40,50,000/- and Gold Ornaments, weighing 566.660 grams, valued at & ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ve gone through the Air Bills etc. submitted by Shri V.Jayaraman. the serial numbers available on the 14 Foreign Marked Gold Biscuits viz AF063571 to AFO63575, AFO63716, AFO63718, AFO63779, AFO63784, AFO64198, AFO64256, DY5689, DY2030 DX4789 and 2 Gold cut pieces marked as DX 4790 and AFO63478, tallied with the Air Way Bills and Bills of entry submitted by the party. However, as seen from the Air Way Bills and bills of entry, the importers were M/s Zaveri Co. Pvt.Ltd. M/s Kanak Exports and M/s Khandwala Enterprises. It is seen from the record that the above said Airway Bills etc. were furnished by only M/s SVBC Gold, Visakhapatnam. Shri V.Jayaraman vide, his letter dated 18-09-2015 have furnished letters from the above said importers t ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... les Tax for the period 1/2015 where the gross amount received by sale goods is shown as ₹ 95,65,916/-. The income tax returns for the relevant period has also been furnished by the appellant. Taking into account these documentary evidences, we are of the opinion that the minor discrepancies in the statements are not material. We therefore find that the appellants have been able to establish the source of the cash which was seized. We find that appellants have been able to prove that the gold and cash confiscated were not smuggled goods/sale proceeds of smuggled goods. 10. From the foregoing, we are of the considered opinion that the confiscation is unjustified. The goods are to be released to the appellant forthwith. The appeal is ..... X X X X Extracts X X X X X X X X Extracts X X X X
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