https://www.taxtmi.com/caselaws?id=115056 The Tribunal upheld the Commissioner's decision of absolute confiscation of concealed foreign currencies amounting to Rs. 45,11,588.75 under the Customs Act. Additionally, a penalty of Rs. 1 lakh each was imposed on the appellants for attempting to smuggle out foreign currencies. Despite compliance with pre-deposit requirements, the Tribunal found the penalty justified given the substantial evidence implicating the appellants in the smuggling attempt, including their own admissions and corroborating statements. The Tribunal dismissed the appeals, emphasizing the seriousness of the offense and affirming the penalty and confiscation. en-us Tue, 17 Aug 2004 00:00:00 +0530 Wed, 23 May 2012 14:28:53 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=115056 The Tribunal upheld the Commissioner's decision of absolute confiscation of concealed foreign currencies amounting to Rs. 45,11,588.75 under the Customs Act. Additionally, a penalty of Rs. 1 lakh each was imposed on the appellants for attempting to smuggle out foreign currencies. Despite compliance with pre-deposit requirements, the Tribunal found the penalty justified given the substantial evidence implicating the appellants in the smuggling attempt, including their own admissions and corroborating statements. The Tribunal dismissed the appeals, emphasizing the seriousness of the offense and affirming the penalty and confiscation. Case-Laws Customs Tue, 17 Aug 2004 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=115056