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2014 (8) TMI 247 - CESTAT MUMBAI (LB)Confiscation of currency - Redemption fine - attempt to export Indian currency outside India without permission of RBI - Whether the proper officer can confiscate absolutely the Indian currency which is found more than ₹ 10,000/- with a person who is going outside India or not - Held that:- In case a person attempted to export Indian currency outside India without permission of RBI more than ₹ 5,000/- or ₹ 10,000/- (as the case may be) in that case the Indian currency can be absolutely confiscated and it is discretion of the proper officer in the facts and circumstances of the case be allowed to redeem on payment of redemption fine and imposition of penalty - matter sent to referral banch.
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