https://www.taxtmi.com/caselaws?id=94243 Currency recovered from the vehicles was treated as the sale proceeds of smuggled gold on the basis of admissions, recoveries and corroborative statements, and was held liable to confiscation under Section 121 of the Customs Act, 1962. Confiscation under Section 111(d) was not sustained because there was no allegation that foreign exchange had been smuggled into India. Confiscation of the Contessa car and scooter under Section 115 was also set aside, as the requisite nexus with transport of imported contraband was not established. The penalties were found excessive and were reduced. en-us Thu, 19 Aug 1999 00:00:00 +0530 Mon, 21 Nov 2011 11:23:44 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=94243 Currency recovered from the vehicles was treated as the sale proceeds of smuggled gold on the basis of admissions, recoveries and corroborative statements, and was held liable to confiscation under Section 121 of the Customs Act, 1962. Confiscation under Section 111(d) was not sustained because there was no allegation that foreign exchange had been smuggled into India. Confiscation of the Contessa car and scooter under Section 115 was also set aside, as the requisite nexus with transport of imported contraband was not established. The penalties were found excessive and were reduced. Case-Laws Customs Thu, 19 Aug 1999 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=94243