Concealed and undeclared foreign currency attempted to be exported without proof of lawful acquisition from authorised channels or authority to export is liable to confiscation; genuineness of the currency does not establish lawful possession or export. Redemption discretion must be exercised judicially by weighing the facts, surrounding circumstances and proportionality, so absolute confiscation may be replaced by redemption on payment of apportioned fines. Penalty liability follows from involvement in attempted illicit export, but quantum must reasonably reflect the proven degree of participation. Where ownership, financing and ultimate benefit are unproved, reduced penalties may be warranted.
Concealed and undeclared foreign currency attempted to be exported without proof of lawful acquisition from authorised channels or authority to export is liable to confiscation; genuineness of the currency does not establish lawful possession or export. Redemption discretion must be exercised judicially by weighing the facts, surrounding circumstances and proportionality, so absolute confiscation may be replaced by redemption on payment of apportioned fines. Penalty liability follows from involvement in attempted illicit export, but quantum must reasonably reflect the proven degree of participation. Where ownership, financing and ultimate benefit are unproved, reduced penalties may be warranted.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4923 
