Confiscation of Gold Bars & Penalty based on Retracted Statements Unsustainable

Shreyas Agarwal Vs Commissioner of Customs (CESTAT Kolkata) CESTAT Kolkata held that confiscation of gold bars and imposition of penalty thereon on the basis of retracted statements without proving that the gold bars are smuggled in nature is unsustainable. Facts- Specific intelligence was gathered to effect that a syndicate under control of one Shri Anurag Jalan was actively involved in smuggling of gold and silver from Bangladesh through the Indo Bangladesh border in the district of North 24 Parganas, West Bengal. On completion of investigation, Shri Shreyas Agarwal, along with others, were ...