https://www.taxtmi.com/caselaws?id=248117 The tribunal upheld the penalties imposed on the appellants for smuggling foreign currency but reduced them due to mitigating factors, such as their genuine business purpose and lack of prior smuggling activities. Redemption fines ranging from 15% to 30% were imposed based on individual roles and involvement. The appellants' defense of being misled and unaware of passport endorsement requirements was dismissed, emphasizing their knowledge of the regulations. The judgment balanced the penalties and fines to align with justice, considering the specific circumstances of each appellant. en-us Thu, 10 Oct 2013 00:00:00 +0530 Mon, 02 Jun 2014 13:57:56 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=248117 The tribunal upheld the penalties imposed on the appellants for smuggling foreign currency but reduced them due to mitigating factors, such as their genuine business purpose and lack of prior smuggling activities. Redemption fines ranging from 15% to 30% were imposed based on individual roles and involvement. The appellants' defense of being misled and unaware of passport endorsement requirements was dismissed, emphasizing their knowledge of the regulations. The judgment balanced the penalties and fines to align with justice, considering the specific circumstances of each appellant. Case-Laws Customs Thu, 10 Oct 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=248117