https://www.taxtmi.com/caselaws?id=341169 The Customs, Excise and Service Tax Appellate Tribunal (CESTAT) allowed the appeal of two individuals apprehended with foreign currency at the airport, permitting redemption of the confiscated currency upon payment of a fine. The Tribunal's decision was upheld by the High Court, affirming the legality of the redemption process under the Customs Act, 1962. The Court dismissed the Revenue's grievance, stating the Tribunal acted within its powers, leading to a reduction in penalties for the individuals. en-us Thu, 27 Oct 2016 00:00:00 +0530 Tue, 04 Apr 2017 09:56:54 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=341169 The Customs, Excise and Service Tax Appellate Tribunal (CESTAT) allowed the appeal of two individuals apprehended with foreign currency at the airport, permitting redemption of the confiscated currency upon payment of a fine. The Tribunal's decision was upheld by the High Court, affirming the legality of the redemption process under the Customs Act, 1962. The Court dismissed the Revenue's grievance, stating the Tribunal acted within its powers, leading to a reduction in penalties for the individuals. Case-Laws Customs Thu, 27 Oct 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=341169