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It is further argued that in terms of mandate of section 135 (1) (i) (A), the offence is punishable for a term which may extend to seven years. It is further argued that in terms of the mandate of section 137(iii), the offence is compoundable as the import of gold is not marked as a prohibited item for import in ITC(HS) Classification of Export and Import Items in the Foreign Trade Policy as amended from time to time. It is further submitted that offence is triable by the Magistrate as provided under section 138 of the Customs Act. It is further submitted that co-accused Mohd. Nasir Raza, Shamsher Alam and Shri Mukir have been granted bail by Co-ordinate Bench of this Court in Bail Nos. 10481 of 2021, 10036 of 2021 & 10249 of 2021 by a common order dated 16.12.2021.