https://www.taxtmi.com/caselaws?id=280552 Currency imported into or taken out of India without Reserve Bank permission is treated as restricted under the Foreign Exchange Regulation Act, 1947 read with the Sea Customs Act, 1878. Knowingly concealing such currency in a vessel-borne vehicle may attract customs penalty and confiscation. A vehicle used to remove goods liable to confiscation may itself be confiscated, and seized personal cash may be retained towards penalty recovery. A person who disowns concealed currency and denies knowledge of it lacks a legal basis to challenge its confiscation. en-us Tue, 10 Nov 1959 00:00:00 +0530 Fri, 10 May 2019 10:10:36 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=280552 Currency imported into or taken out of India without Reserve Bank permission is treated as restricted under the Foreign Exchange Regulation Act, 1947 read with the Sea Customs Act, 1878. Knowingly concealing such currency in a vessel-borne vehicle may attract customs penalty and confiscation. A vehicle used to remove goods liable to confiscation may itself be confiscated, and seized personal cash may be retained towards penalty recovery. A person who disowns concealed currency and denies knowledge of it lacks a legal basis to challenge its confiscation. Case-Laws Customs Tue, 10 Nov 1959 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=280552