https://www.taxtmi.com/caselaws?id=46452 The court upheld the confiscation of undeclared foreign currencies and the penalty imposed on the petitioner under Section 129DD of the Customs Act, 1962. Despite the petitioner's claims of lack of mens rea and NRI status, the appellate and revisional authorities affirmed the decision, emphasizing the proper valuation and the petitioner's awareness of currency regulations. The court reduced the redemption fine from Rs. 55,000 to Rs. 25,000, considering the circumstances and balancing justice with the value of the seized currencies. The judgment underscores the significance of factual assessments and discretion in adjusting fines based on case particulars. en-us Wed, 30 Aug 2000 00:00:00 +0530 Wed, 21 Jul 2010 09:40:09 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=46452 The court upheld the confiscation of undeclared foreign currencies and the penalty imposed on the petitioner under Section 129DD of the Customs Act, 1962. Despite the petitioner's claims of lack of mens rea and NRI status, the appellate and revisional authorities affirmed the decision, emphasizing the proper valuation and the petitioner's awareness of currency regulations. The court reduced the redemption fine from Rs. 55,000 to Rs. 25,000, considering the circumstances and balancing justice with the value of the seized currencies. The judgment underscores the significance of factual assessments and discretion in adjusting fines based on case particulars. Case-Laws Customs Wed, 30 Aug 2000 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=46452