I. ISMAIL KUTTY Vs. COMMISSIONER OF CUSTOMS, COCHIN

JUDGEMENT

(1.) I . Ismail Kutty the appellant (referred herein as A -1) owner of jewellery shop by the name of ABHARANAMAL in Kayankulam Municipality area of Kerala was holder of Dealers Licence No. 34/C/80 granted under the Gold Control Act and was maintaining the records prescribed thereunder.

(2.) ON 30th October, 1987, officers of Preventive Department verified the stocks of Gold ornaments and the registers maintained by him. They found the stock entries to be made up to date i.e. 30 -10 -1987 and the stocks of new ornaments recorded in balance was 2760.360 gms. Gross in 568 Nos. the net weight being 2707.550 gms. The stocks of old gold ornaments in balance shown was NIL. On questioning, they were told by A -1, that he did not have any Gold or Gold ornaments kept unlawfully without accounting for the same.

(3.) THE officers then informed A -1 and the witnesses, that they were going to search the premises, as they had bona fide reasons to believe, that Gold and Gold Ornaments were kept unauthorisedly in the shop without accounting for the same and in violation of the Gold (Control) Act, 1968 and Customs Act, 1962.