2006 (5) TMI 259

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..... lesh Kumar, SDR, for the Respondent. [Order per : Chittaranjan Satapathy, Member (T)]. Heard both sides. Shri Mayur Shroff, learned Advocate appearing for the appellant states that the impugned two and a half Nongs of Gold Bars were part of five Nongs of gold bars purchased by the appellant and that the said purchase has been confirmed by the seller. He further states that gold is freely .....

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..... s that the past record of smuggling of the appellant has been taken into account by the adjudicating Commissioner while confiscating Indian Currency found with the appellant, the legal possession of which he has not satisfactorily explained. 3. After hearing both sides and perusal of the case records, we are of the view that the document produced by the appellant to show valid acquisition of the .....

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..... dence has been brought on record except the past misdeeds of the appellant to confiscate the seized Indian currency. Hence, due to lack of evidence, we set aside the confiscation of the Indian currency but since the same appears to be otherwise unaccounted for and obtained from satta dealing as stated by the appellant himself, the Income Tax authorities may be kept informed before releasing the sa .....

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