https://www.taxtmi.com/caselaws?id=751198 CESTAT Hyderabad set aside absolute confiscation of foreign currency seized from appellant intercepted by CISF outside customs area. Court found appellant had not entered customs area nor failed to make required declaration under Section 77 of Customs Act. Provisions of Section 113(e) and (h) not attracted as only intention to export existed, not actual attempt. Foreign currency remained liable for confiscation under Section 113(d) but allowed redemption on payment of Rs. 10 lakh fine. Penalty under Section 114 reduced to Rs. 1 lakh and FEMA penalty set aside. Appeal allowed in part. en-us Mon, 08 Apr 2024 00:00:00 +0530 Fri, 11 Apr 2025 14:59:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=751198 CESTAT Hyderabad set aside absolute confiscation of foreign currency seized from appellant intercepted by CISF outside customs area. Court found appellant had not entered customs area nor failed to make required declaration under Section 77 of Customs Act. Provisions of Section 113(e) and (h) not attracted as only intention to export existed, not actual attempt. Foreign currency remained liable for confiscation under Section 113(d) but allowed redemption on payment of Rs. 10 lakh fine. Penalty under Section 114 reduced to Rs. 1 lakh and FEMA penalty set aside. Appeal allowed in part. Case-Laws Customs Mon, 08 Apr 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=751198