https://www.taxtmi.com/caselaws?id=104857 A belated general retraction of an on-the-spot admission did not negate penalty liability under Section 112 of the Customs Act, 1962, where the appellants had admitted carrying Bangladesh currency into India and had not claimed ownership. The article notes that the later allegation of pressure was ineffective, so the penalty remained justified. However, the facts showed the appellants were poor persons induced by a third party to carry the currency for a small consideration, which justified moderation of the penalty quantum from Rs. 2,500 to Rs. 500 each. en-us Wed, 15 May 2002 00:00:00 +0530 Thu, 01 Mar 2012 15:58:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=104857 A belated general retraction of an on-the-spot admission did not negate penalty liability under Section 112 of the Customs Act, 1962, where the appellants had admitted carrying Bangladesh currency into India and had not claimed ownership. The article notes that the later allegation of pressure was ineffective, so the penalty remained justified. However, the facts showed the appellants were poor persons induced by a third party to carry the currency for a small consideration, which justified moderation of the penalty quantum from Rs. 2,500 to Rs. 500 each. Case-Laws Customs Wed, 15 May 2002 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=104857