https://www.taxtmi.com/caselaws?id=256176 The Tribunal upheld the confiscation of foreign currency and penalties for abetting illegal export. It determined that the absolute confiscation and penalties imposed were justified, considering the violation of Foreign Exchange Management Act rules and the concealment of currency. The decision emphasized that prohibited goods can be absolutely confiscated, with redemption at the adjudicating authority's discretion. The Tribunal rejected the appeals, citing legal precedents and the substantial amount of currency involved, affirming the impugned order based on a detailed analysis of the case. en-us Mon, 15 Sep 2014 00:00:00 +0530 Thu, 05 Feb 2015 06:06:02 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=256176 The Tribunal upheld the confiscation of foreign currency and penalties for abetting illegal export. It determined that the absolute confiscation and penalties imposed were justified, considering the violation of Foreign Exchange Management Act rules and the concealment of currency. The decision emphasized that prohibited goods can be absolutely confiscated, with redemption at the adjudicating authority's discretion. The Tribunal rejected the appeals, citing legal precedents and the substantial amount of currency involved, affirming the impugned order based on a detailed analysis of the case. Case-Laws Customs Mon, 15 Sep 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=256176