https://www.taxtmi.com/caselaws?id=204519 The Appellate Tribunal CESTAT, Kolkata upheld the penalty imposed on the Appellants for possessing Bangladeshi currencies under the Customs Act, 1962. The Tribunal rejected the Appellants' challenges regarding retracted statements, confiscation of foreign currencies, applicability of the Foreign Exchange (Regulations) Act, 1973, and legal precedents. The Tribunal found that the Appellants, acting as carriers exchanging currencies illegally, were liable for the penalties, leading to the dismissal of their appeals. en-us Mon, 12 Jul 2010 00:00:00 +0530 Wed, 05 Jun 2013 14:57:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=204519 The Appellate Tribunal CESTAT, Kolkata upheld the penalty imposed on the Appellants for possessing Bangladeshi currencies under the Customs Act, 1962. The Tribunal rejected the Appellants' challenges regarding retracted statements, confiscation of foreign currencies, applicability of the Foreign Exchange (Regulations) Act, 1973, and legal precedents. The Tribunal found that the Appellants, acting as carriers exchanging currencies illegally, were liable for the penalties, leading to the dismissal of their appeals. Case-Laws Central Excise Mon, 12 Jul 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=204519