Licit Possession Of Confisticated Gold Bars Received By Way Of Succession: CESTAT Set Aside Penalty
2 years, 8 months ago

Licit Possession Of Confisticated Gold Bars Received By Way Of Succession: CESTAT Set Aside Penalty

Live Law  

The Delhi Bench of Customs, Excise and Service Tax Appellate Tribunal has set aside the penalty under section 114AA of the Customs Act on the ground of licit possession of confisticated gold bars received by way of succession. The appellant did not submit any documents evidencing the source of two gold bars of foreign origin found in the appellant's possession. The appellant at the adjudication stage has come up with another version that he has received the two gold bars from his late father as per the will. The department contended that as the seized gold bars have foreign markings, it is on the appellant under Section 123 & of the Customs Act to explain the licit source of possession of gold.

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History of this topic

How customs officers seized gold bar worth ₹9 lakh hidden inside cream box at Delhi’s IGI airport
3 months, 3 weeks ago

How customs officers seized gold bar worth ₹9 lakh hidden inside cream box at Delhi’s IGI airport

Live Mint  

Delhi customs officials seized 117 grams of gold worth around ₹9.5 lakh from a person travelling to Delhi from Riyad at Indira Gandhi International airport. Customs officials received information about a massive gold smuggling attempt, which led to strict checking at the IGI airport. Further examination of the baggage led to the recovery of a silver-coloured gold bar, weighing 117.00 …

CESTAT Orders Absolute Confiscation Of Gold Smuggled Without Payment Of Customs Duty
1 year, 2 months ago

CESTAT Orders Absolute Confiscation Of Gold Smuggled Without Payment Of Customs Duty

Live Law  

The Delhi Bench of Customs, Excise, and Service Tax Appellate Tribunal has ordered the absolute confiscation of gold smuggled without the payment of customs duty.The bench of Rachna Gupta and Hemambika R. Priya has observed that the gold was of foreign origin. The Delhi Bench of Customs, Excise, and Service Tax Appellate Tribunal has ordered the absolute confiscation of gold …

Foreign Origin Gold Bar With Unexplained Source Is Liable For Absolute Confiscation As It amounts To Importation Of Prohibited Goods: CESTAT
2 years, 10 months ago

Foreign Origin Gold Bar With Unexplained Source Is Liable For Absolute Confiscation As It amounts To Importation Of Prohibited Goods: CESTAT

Live Law  

The Chennai Bench of the Customs, Excise and Service Tax Appellate Tribunal consisting of P.Dinesha, while remanding the matter back, held that the gold bar with a foreign marking, the source of which is not explained, is liable for absolute confiscation since the same would amount to the importation of a prohibited good. In the Show Cause Notice, it was …

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