https://www.taxtmi.com/caselaws?id=99708 Currency seized from the appellant could not be confiscated under Section 121 of the Customs Act because the evidence failed to establish that it represented the sale proceeds of smuggled goods. The alleged intermediary, ownership of the currency, and the necessary link between the money and any smuggled goods were not satisfactorily proved, and a retracted statement alone was insufficient to satisfy the statutory ingredients. Mere suspicion that the cash was unexplained or unlawfully acquired was inadequate. As the foundational basis for confiscation was not made out, the penalty under Section 112 also could not be sustained. en-us Mon, 14 Feb 2000 00:00:00 +0530 Sat, 28 Jan 2012 13:30:26 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=99708 Currency seized from the appellant could not be confiscated under Section 121 of the Customs Act because the evidence failed to establish that it represented the sale proceeds of smuggled goods. The alleged intermediary, ownership of the currency, and the necessary link between the money and any smuggled goods were not satisfactorily proved, and a retracted statement alone was insufficient to satisfy the statutory ingredients. Mere suspicion that the cash was unexplained or unlawfully acquired was inadequate. As the foundational basis for confiscation was not made out, the penalty under Section 112 also could not be sustained. Case-Laws Customs Mon, 14 Feb 2000 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=99708