https://www.taxtmi.com/caselaws?id=125240 The Appellate Tribunal CESTAT, Mumbai allowed the appeal filed by the Revenue, ordering the absolute confiscation of the seized currency of Rs. 1,00,000. The Tribunal determined that the currency was the sale proceeds of smuggled diamonds, justifying its confiscation under Section 121 of the Customs Act, 1962, rather than redemption under Section 125. Despite the respondent's repeated failure to appear for hearings, the Tribunal proceeded with the case and ruled in favor of the Revenue, emphasizing the application of the relevant sections of the Customs Act in deciding the fate of the seized currency. en-us Mon, 01 Dec 2008 00:00:00 +0530 Sat, 20 Oct 2012 18:33:47 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=125240 The Appellate Tribunal CESTAT, Mumbai allowed the appeal filed by the Revenue, ordering the absolute confiscation of the seized currency of Rs. 1,00,000. The Tribunal determined that the currency was the sale proceeds of smuggled diamonds, justifying its confiscation under Section 121 of the Customs Act, 1962, rather than redemption under Section 125. Despite the respondent's repeated failure to appear for hearings, the Tribunal proceeded with the case and ruled in favor of the Revenue, emphasizing the application of the relevant sections of the Customs Act in deciding the fate of the seized currency. Case-Laws Customs Mon, 01 Dec 2008 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=125240