Foreign Currency Confiscation Order Reversed as Revenue Failed to Prove Links to Smuggled Gold Under Section 121

CESTAT set aside the Commissioner's order confiscating currency worth Rs.1.29 crores under Section 121 of the Customs Act, 1962, and vacated penalties imposed on all appellants. The Tribunal determined that Revenue failed to discharge its burden of establishing that the seized currency constituted proceeds from smuggled gold. Despite suspicions arising from the concealment of cash and recovery of loose slips indicating gold quantities, the Commissioner's findings based on preponderance of probability were deemed insufficient without corroborative independent evidence. The currency was ordered to be released to the owner, Shri K.V. Kunhimohammed, as Revenue could not substantiate its allegations with adequate proof. .....

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