https://www.taxtmi.com/caselaws?id=90330 The tribunal found the appellant's inculpatory statement to be voluntary and true, upholding its validity. The application of Section 121 of the Customs Act, 1962 was upheld, leading to the confiscation of the currency as the appellant's statement admitted it represented the sale proceeds of contraband gold. The tribunal held that the appellant failed to prove that the seized currency was not from contraband gold sales. The penalty imposed under Section 112 of the Act was confirmed. Despite a dissenting opinion, the majority decision set aside the lower authority's order, allowing the appeal and overturning the confiscation and penalty. en-us Tue, 04 Jul 1995 00:00:00 +0530 Wed, 05 Oct 2011 16:57:50 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=90330 The tribunal found the appellant's inculpatory statement to be voluntary and true, upholding its validity. The application of Section 121 of the Customs Act, 1962 was upheld, leading to the confiscation of the currency as the appellant's statement admitted it represented the sale proceeds of contraband gold. The tribunal held that the appellant failed to prove that the seized currency was not from contraband gold sales. The penalty imposed under Section 112 of the Act was confirmed. Despite a dissenting opinion, the majority decision set aside the lower authority's order, allowing the appeal and overturning the confiscation and penalty. Case-Laws Central Excise Tue, 04 Jul 1995 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=90330