https://www.taxtmi.com/caselaws?id=103529 Confiscation under the Customs Act was sustained for seized foreign exchange and for umbrellas and leather belts, because the surrounding circumstances and the rejected explanation negated lawful possession, while the remaining goods were not shown to be confiscable and were released from confiscation. A retracted confession was still relied on to the extent it was materially corroborated by other statements and attendant circumstances. The penalty was upheld in principle but reduced on mitigating factors, including financial difficulty and delay, from Rs. 1 lakh to Rs. 20,000. en-us Fri, 18 May 2001 00:00:00 +0530 Thu, 23 Feb 2012 15:04:56 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=103529 Confiscation under the Customs Act was sustained for seized foreign exchange and for umbrellas and leather belts, because the surrounding circumstances and the rejected explanation negated lawful possession, while the remaining goods were not shown to be confiscable and were released from confiscation. A retracted confession was still relied on to the extent it was materially corroborated by other statements and attendant circumstances. The penalty was upheld in principle but reduced on mitigating factors, including financial difficulty and delay, from Rs. 1 lakh to Rs. 20,000. Case-Laws Customs Fri, 18 May 2001 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=103529