https://www.taxtmi.com/caselaws?id=208937 Foreign currency sought to be exported in breach of the restriction deemed under the Customs Act by section 67 of the Foreign Exchange Regulation Act remained liable to independent customs adjudication, because the foreign exchange proceeding and the customs confiscation proceeding operated under different statutory fields. The tribunal also rejected the appellants' retracted statements and alleged sale note as unreliable, finding the coercion complaint unconvincing and the document insufficient to prove lawful acquisition or entitlement. On the accepted evidence, the currency was treated as intended for unauthorised export, so confiscation and penalty were sustained, including absolute confiscation. en-us Tue, 30 Aug 2011 00:00:00 +0530 Tue, 06 Aug 2013 18:54:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=208937 Foreign currency sought to be exported in breach of the restriction deemed under the Customs Act by section 67 of the Foreign Exchange Regulation Act remained liable to independent customs adjudication, because the foreign exchange proceeding and the customs confiscation proceeding operated under different statutory fields. The tribunal also rejected the appellants' retracted statements and alleged sale note as unreliable, finding the coercion complaint unconvincing and the document insufficient to prove lawful acquisition or entitlement. On the accepted evidence, the currency was treated as intended for unauthorised export, so confiscation and penalty were sustained, including absolute confiscation. Case-Laws Customs Tue, 30 Aug 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=208937