https://www.taxtmi.com/caselaws?id=49974 The Tribunal partly allowed the appeals, upholding the involvement of the appellants in smuggling foreign currency. Despite retractions, the detailed and corroborated statements were deemed to have evidentiary value. The penalty was reduced to Rs. one lakh each, considering individual circumstances. The Tribunal emphasized the voluntariness of the statements and relied on legal precedents, including the binding nature of confessions even if retracted. The evidence on record was found sufficient to establish the appellants' guilt, leading to the imposition of penalties but at a reduced amount. en-us Mon, 09 Oct 2000 00:00:00 +0530 Wed, 18 Aug 2010 18:05:37 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=49974 The Tribunal partly allowed the appeals, upholding the involvement of the appellants in smuggling foreign currency. Despite retractions, the detailed and corroborated statements were deemed to have evidentiary value. The penalty was reduced to Rs. one lakh each, considering individual circumstances. The Tribunal emphasized the voluntariness of the statements and relied on legal precedents, including the binding nature of confessions even if retracted. The evidence on record was found sufficient to establish the appellants' guilt, leading to the imposition of penalties but at a reduced amount. Case-Laws Customs Mon, 09 Oct 2000 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=49974