https://www.taxtmi.com/caselaws?id=97630 The appellant's explanations regarding the source of Indian currency seized from his residence were deemed unacceptable due to delays in disclosure and inconsistencies in statements. Despite reducing the penalty, the appellant was held liable for penalty as authorities found discrepancies in statements, concluding the currency was proceeds of smuggled gold. The Tribunal set aside the confiscation of goods and a scooter, as the Department failed to prove they were smuggled, and reduced the penalty imposed on the appellant to Rs. 25,000. en-us Mon, 18 Sep 2000 00:00:00 +0530 Tue, 17 Jan 2012 15:09:52 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=97630 The appellant's explanations regarding the source of Indian currency seized from his residence were deemed unacceptable due to delays in disclosure and inconsistencies in statements. Despite reducing the penalty, the appellant was held liable for penalty as authorities found discrepancies in statements, concluding the currency was proceeds of smuggled gold. The Tribunal set aside the confiscation of goods and a scooter, as the Department failed to prove they were smuggled, and reduced the penalty imposed on the appellant to Rs. 25,000. Case-Laws Central Excise Mon, 18 Sep 2000 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=97630