Gold Balas being gold ornaments are directed to be released as possession of gold is not an offence

Sailendra Narayan Panda Vs Pr. Commissioner of CGST & CX (CESTAT Kolkata) CESTAT Kolkata held that as per new fiscal policy, possession of gold is not an offence. Accordingly, seized gold Balas are ornaments and directed to be released. Facts- The Appellant has filed some documents which would go to show that he is the legal heir of the Late Binod Bihari Panda. The 11 gold Balas of the Appellant are lying with the Department since 02.04.1976. The High Court by an order dated 16.07.1992 was pleased to set aside the confiscation order passed by the Adjudicating authority holding that the sai...