https://www.taxtmi.com/caselaws?id=251772 The High Court upheld the Original Authority's decision of absolute confiscation of foreign currency attempted to be exported in violation of the law, overturning the Tribunal's ruling allowing redemption upon payment of a fine. The Court found the passenger violated FEMA regulations by attempting to export currency without RBI permission. The penalty imposed by the Original Authority was reduced by the Tribunal from Rs. 5 lakhs to Rs. 1 lakh, a decision upheld by the High Court considering mitigating circumstances. en-us Thu, 04 Sep 2014 00:00:00 +0530 Thu, 15 Jan 2015 11:37:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=251772 The High Court upheld the Original Authority's decision of absolute confiscation of foreign currency attempted to be exported in violation of the law, overturning the Tribunal's ruling allowing redemption upon payment of a fine. The Court found the passenger violated FEMA regulations by attempting to export currency without RBI permission. The penalty imposed by the Original Authority was reduced by the Tribunal from Rs. 5 lakhs to Rs. 1 lakh, a decision upheld by the High Court considering mitigating circumstances. Case-Laws Customs Thu, 04 Sep 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=251772