https://www.taxtmi.com/caselaws?id=40715 Contravention of the foreign exchange restriction was treated as attracting Customs Act liability because Section 23A deems the restriction under Section 12(1) of the Foreign Exchange Regulation Act, 1947 to be a restriction under Section 11 of the Customs Act, 1962. Liability to confiscation under Sections 113 and 114 arises at the stage of an attempted export made contrary to the prohibition, and the subsequent actual export of the goods does not extinguish that accrued liability. Goods already exported may still be regarded as export goods for the purpose of confiscation and penalty where the prohibited attempt had already occurred. en-us Tue, 24 Jul 1979 00:00:00 +0530 Thu, 13 May 2010 17:25:08 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=40715 Contravention of the foreign exchange restriction was treated as attracting Customs Act liability because Section 23A deems the restriction under Section 12(1) of the Foreign Exchange Regulation Act, 1947 to be a restriction under Section 11 of the Customs Act, 1962. Liability to confiscation under Sections 113 and 114 arises at the stage of an attempted export made contrary to the prohibition, and the subsequent actual export of the goods does not extinguish that accrued liability. Goods already exported may still be regarded as export goods for the purpose of confiscation and penalty where the prohibited attempt had already occurred. Case-Laws Customs Tue, 24 Jul 1979 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=40715