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Confiscation of Indian currency and imposition of penalty under the Customs Act. Analysis: The appeal before the Appellate Tribunal CESTAT, Mumbai arose from the order of the Commissioner of Customs (P) Mumbai, involving the confiscation of Rs. 8 lakhs worth of Indian Currency and a penalty of Rs. 5,000 imposed on the appellant. The facts of the case revolved around a search conducted by customs officers at certain premises where foreign currency was recovered, and individuals involved in the exchange of foreign currency were identified. Statements made by the individuals implicated in the case formed a crucial part of the evidence considered by the Commissioner in reaching the decision. The appellant, along with other individuals, admitted to being engaged in the buying and selling of foreign marked gold and foreign currency, with the seized Indian currency believed to be the sale proceeds of such activities. Despite retractions of statements, the Commissioner relied on the initial admissions and corroborating evidence to uphold the confiscation and penalty. The Commissioner concluded that the confiscated currency represented the sale proceeds of smuggled gold and foreign currency, based on the statements provided by the involved parties. The appellant's admission regarding the currency, along with the corroboration from other individuals, played a significant role in the decision-making process. The absence of a recorded statement from the appellant's absconding partner did not diminish the weight of the evidence provided by others involved in the illegal activities. The Tribunal found no reason to question the lower authority's decision, emphasizing the lack of new evidence presented by the appellant to challenge the confiscation and penalty imposed under the Customs Act. The Tribunal upheld the Commissioner's order, rejecting the appeal and affirming the confiscation of the Indian currency and the penalty imposed on the appellant. In conclusion, the judgment by the Appellate Tribunal CESTAT, Mumbai upheld the decision of the Commissioner of Customs regarding the confiscation of Rs. 8 lakhs worth of Indian Currency and the imposition of a penalty on the appellant under the Customs Act. The reliance on statements provided by the individuals involved in the illegal exchange of foreign currency, along with corroborating evidence, formed the basis for the decision. Despite retractions of statements, the initial admissions and supporting testimonies were deemed sufficient to establish the currency as the proceeds of illicit activities, justifying the confiscation and penalty. The Tribunal found no grounds to overturn the Commissioner's order, thereby affirming the confiscation and penalty in this case.
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