https://www.taxtmi.com/caselaws?id=258318 The appellant's appeal regarding the confiscation of foreign currency and imposition of a penalty under Section 114(i) of the Customs Act, 1962 was dismissed. The court upheld the confiscation of Indian Rs. 32,87,673 due to the deliberate attempt to export currency in violation of FEMA regulations. The appellant's defense of lack of knowledge and ownership claims were rejected, emphasizing his active role in smuggling activities. The court also denied the option for redemption under Section 125 of the Customs Act, citing the prohibition on possessing large amounts of foreign currency. The appeal was rejected based on corroborated evidence of smuggling activities, despite attempts to retract statements. en-us Fri, 14 Nov 2014 00:00:00 +0530 Mon, 08 Jun 2015 10:54:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=258318 The appellant's appeal regarding the confiscation of foreign currency and imposition of a penalty under Section 114(i) of the Customs Act, 1962 was dismissed. The court upheld the confiscation of Indian Rs. 32,87,673 due to the deliberate attempt to export currency in violation of FEMA regulations. The appellant's defense of lack of knowledge and ownership claims were rejected, emphasizing his active role in smuggling activities. The court also denied the option for redemption under Section 125 of the Customs Act, citing the prohibition on possessing large amounts of foreign currency. The appeal was rejected based on corroborated evidence of smuggling activities, despite attempts to retract statements. Case-Laws Customs Fri, 14 Nov 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=258318