1. Shri Deokinandan Bagaria, 165, Central Avenue, Calcutta-700007 had filed a revision application to the Secretary, Govt. of India, Ministry of Finance, Dept. of Revenue, New Delhi being aggrieved from Order No. 264 of 1980 dt. 31st March, 1980 passed by the Central Board of Excise Customs, New Delhi. After the coming into existence of the Tribunal, the said revision application stands transferred to Tribunal under Section 131B of the Customs Act, 1962 and is being disposed of as an appeal.

2. Briefly the facts of the case are that on the basis of an information, the premises at 5A Muktarambabu St., Calcutta under the control and occupation of S/Shri Bhagawati Prasad Dudhwala and Mahendra Kumar Dudhwala were searched by the Customs officer on 12th January, 1976. In course of the search of the bed room in the said premises occupied by Shri M.K. Dudhwala, 11 pieces of gold sovereigns, 1 piece gold coin with inscriptions, one piece wrist watch of foreign origin, jewelleries studded with diamonds, pearls, precious stones and semi-precious stones were recovered from a steel almirah the key of which was produced by Shri Mahendra Kumar Dudhwala. As no satisfactory explanation or do