https://www.taxtmi.com/caselaws?id=178709 The tribunal upheld the absolute confiscation of the seized foreign currency under Sections 113(d) and (h) of the Customs Act, 1962, amounting to Rs. 1,25,22,780. The penalties imposed on the appellants were reduced significantly, with Sri. Suresh Gangaram Hole's penalty reduced to Rs. 5 lakhs, Sri. Rajendra Butada's to Rs. 25 lakhs, and Smt. Bharati Butada's to Rs. 1 lakh. en-us Thu, 15 Jan 2015 00:00:00 +0530 Thu, 11 Feb 2016 01:14:35 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=178709 The tribunal upheld the absolute confiscation of the seized foreign currency under Sections 113(d) and (h) of the Customs Act, 1962, amounting to Rs. 1,25,22,780. The penalties imposed on the appellants were reduced significantly, with Sri. Suresh Gangaram Hole's penalty reduced to Rs. 5 lakhs, Sri. Rajendra Butada's to Rs. 25 lakhs, and Smt. Bharati Butada's to Rs. 1 lakh. Case-Laws Customs Thu, 15 Jan 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=178709