CESTAT releases Gold Bar & Indian Currency as Smuggling not proved

Commissioner of Customs Vs Prabhash Kumar Jalan (CESTAT Kolkata) Conclusion: Since he confiscated gold was not of Foreign origin and smuggled into India and the confiscated Indian Currency which had been claimed by assessee was not established or proved to be the sale proceeds of smuggled Gold, therefore, the order was passed to release the 6 pcs confiscated gold bars and Indian Currency to assessee being the rightful owner of the goods. Held: Customs Officers recovered 6 Pcs of Yellow metal in rectangular bar form weighing 6000 Gms valued at Rs 1,86,60,000 and Indian Currency amounting to Rs...