https://www.taxtmi.com/caselaws?id=116596 The Tribunal set aside the confiscation of Indian currency and revoked personal penalties imposed on the appellants in two appeals challenging the confiscation of currency as proceeds of smuggled gold. Insufficient evidence regarding the quantity of gold and the purchaser led to the decision in favor of the appellants, emphasizing the need to meet specific criteria for confiscation under the Customs Act. The judgment underscored the importance of concrete evidence in such cases, aligning with previous Tribunal decisions and resulting in the reversal of the confiscation and penalties. en-us Mon, 19 Sep 2005 00:00:00 +0530 Wed, 13 Jun 2012 18:19:13 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=116596 The Tribunal set aside the confiscation of Indian currency and revoked personal penalties imposed on the appellants in two appeals challenging the confiscation of currency as proceeds of smuggled gold. Insufficient evidence regarding the quantity of gold and the purchaser led to the decision in favor of the appellants, emphasizing the need to meet specific criteria for confiscation under the Customs Act. The judgment underscored the importance of concrete evidence in such cases, aligning with previous Tribunal decisions and resulting in the reversal of the confiscation and penalties. Case-Laws Customs Mon, 19 Sep 2005 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=116596