https://www.taxtmi.com/caselaws?id=112777 The Appellate Tribunal CESTAT, Mumbai upheld the Commissioner of Customs' decision to confiscate Rs. 8 lakhs of Indian Currency and impose a penalty of Rs. 5,000 on the appellant under the Customs Act. The Tribunal relied on statements from individuals involved in illegal currency exchange activities and corroborating evidence to support the confiscation. Despite retractions, initial admissions were deemed credible, leading to the affirmation of the penalty and confiscation. The Tribunal found no new evidence to challenge the Commissioner's decision, ultimately upholding the confiscation and penalty imposed. en-us Mon, 10 Nov 2003 00:00:00 +0530 Tue, 01 May 2012 17:07:23 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=112777 The Appellate Tribunal CESTAT, Mumbai upheld the Commissioner of Customs' decision to confiscate Rs. 8 lakhs of Indian Currency and impose a penalty of Rs. 5,000 on the appellant under the Customs Act. The Tribunal relied on statements from individuals involved in illegal currency exchange activities and corroborating evidence to support the confiscation. Despite retractions, initial admissions were deemed credible, leading to the affirmation of the penalty and confiscation. The Tribunal found no new evidence to challenge the Commissioner's decision, ultimately upholding the confiscation and penalty imposed. Case-Laws Customs Mon, 10 Nov 2003 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=112777