https://www.taxtmi.com/caselaws?id=80822 Currency found at a shop counter was treated as being in the proprietor's possession because the explanation that an unknown broker had placed it there shortly before seizure was found unsatisfactory. On that factual basis, the foreign currency was held liable to confiscation under the Customs Act, and the personal penalty under Section 112(b) was upheld because it was not excessive in relation to the currency seized. The decision states that currency found in a person's premises is presumed to be in that person's possession unless a credible explanation is offered. en-us Fri, 10 Aug 1990 00:00:00 +0530 Mon, 20 Jun 2011 15:58:23 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=80822 Currency found at a shop counter was treated as being in the proprietor's possession because the explanation that an unknown broker had placed it there shortly before seizure was found unsatisfactory. On that factual basis, the foreign currency was held liable to confiscation under the Customs Act, and the personal penalty under Section 112(b) was upheld because it was not excessive in relation to the currency seized. The decision states that currency found in a person's premises is presumed to be in that person's possession unless a credible explanation is offered. Case-Laws Customs Fri, 10 Aug 1990 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=80822