CESTAT upheld Confiscation of 11 Gold Bars which appeared to be of foreign origin

Mahendra Kumar Bajpai Vs Commissioner, Customs, Goods & Service Tax & Central Excise (CESTAT Allahabad) Conclusion: Confiscation of eleven gold bars-MMTC marking/brand was upheld and penalty under section 112(b) was reduced to Rs. 2,50,000 as the reliability of statement of Mr. Bajpai recorded during investigation was doubtful, as he had alleged coercion and duress. Held: Assessee was travelling from Kolkata to Kanpur by train. He was intercepted by the officers of Government Railway Police. On finding that he was carrying 13 pieces of gold bars, which appeared to be of foreign origin,...