The definition of counterfeit is present in section 28 of the penal code which is reproduced below. It is an offense if it has a fraudulent intent behind it and if it has actusrea in it. Kindly read this section to understand the concept better.
28."Counterfeit".
A person is said to "counterfeit" who causes one thing to resemble another thing, intending by means of that resemblance to practice deception, or knowing it to be likely that deception will thereby be practiced.
Explanation 1: It is not essential to counterfeiting that the imitation should be exact.
Explanation 2: When a person causes one thing to resemble another thing, and the resemblance is such that a person might be deceived thereby, it shall be presumed, until the contrary is proved, that the person so causing the one thing to resemble the other thing intended" by means of that resemblance to practice deception or knew it to be likely that deception would thereby be practiced.
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