https://www.taxtmi.com/caselaws?id=237034 A retracted statement under the Customs Act, 1962 could not by itself justify confiscation of foreign currency without independent corroboration. The analysis noted that the appellant produced export order documents, affidavits, passport copies and other material showing the currency was received as advance payment for a completed export transaction, and a Board circular supported receipt of foreign exchange in such transactions. Because the Revenue failed to prove by independent evidence that the currency represented smuggled proceeds, the confiscation was not sustainable and the order was liable to be set aside. en-us Mon, 11 Feb 2013 00:00:00 +0530 Tue, 22 Apr 2014 12:58:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=237034 A retracted statement under the Customs Act, 1962 could not by itself justify confiscation of foreign currency without independent corroboration. The analysis noted that the appellant produced export order documents, affidavits, passport copies and other material showing the currency was received as advance payment for a completed export transaction, and a Board circular supported receipt of foreign exchange in such transactions. Because the Revenue failed to prove by independent evidence that the currency represented smuggled proceeds, the confiscation was not sustainable and the order was liable to be set aside. Case-Laws Customs Mon, 11 Feb 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=237034