https://www.taxtmi.com/caselaws?id=72541 The tribunal upheld the confiscation order of Rs. 1 lakh Indian currency under Sec. 121 of the Customs Act, 1962, rejecting the appellants' claim of ownership. Despite later asserting ownership, the tribunal deemed the initial disowning of the currency as true and voluntary, concluding the appellants had no legal right to claim ownership due to their conduct post-seizure and failure to assert ownership in subsequent proceedings. The tribunal emphasized the significance of the appellants' initial disavowal of the currency, leading to the dismissal of the appeals. en-us Wed, 30 Jul 1986 00:00:00 +0530 Fri, 20 May 2011 13:06:41 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=72541 The tribunal upheld the confiscation order of Rs. 1 lakh Indian currency under Sec. 121 of the Customs Act, 1962, rejecting the appellants' claim of ownership. Despite later asserting ownership, the tribunal deemed the initial disowning of the currency as true and voluntary, concluding the appellants had no legal right to claim ownership due to their conduct post-seizure and failure to assert ownership in subsequent proceedings. The tribunal emphasized the significance of the appellants' initial disavowal of the currency, leading to the dismissal of the appeals. Case-Laws Customs Wed, 30 Jul 1986 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=72541