https://www.taxtmi.com/caselaws?id=268863 The Tribunal upheld penalties under Section 114 of the Customs Act for attempted smuggling of Indian currency but reduced them due to acquittal in parallel proceedings. The first appellant's penalty was reduced from Rs. 4 lakhs to Rs. 2 lakhs, and the second appellant's from Rs. 1 lakh to Rs. 10,000. The decision emphasized the significance of confessional statements and corroborative evidence in such cases, ultimately resulting in reduced penalties for the appellants based on the case's circumstances. en-us Wed, 18 Mar 2015 00:00:00 +0530 Wed, 02 Dec 2015 23:00:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=268863 The Tribunal upheld penalties under Section 114 of the Customs Act for attempted smuggling of Indian currency but reduced them due to acquittal in parallel proceedings. The first appellant's penalty was reduced from Rs. 4 lakhs to Rs. 2 lakhs, and the second appellant's from Rs. 1 lakh to Rs. 10,000. The decision emphasized the significance of confessional statements and corroborative evidence in such cases, ultimately resulting in reduced penalties for the appellants based on the case's circumstances. Case-Laws Customs Wed, 18 Mar 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=268863