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2017 (2) TMI 133 - CESTAT MUMBAIConfiscation of currency u/s 121 of the CA, 1962 - imposition of penalty - export under DEEC - misdeclaration of description goods - more currencies found in the premises - Held that: - It is difficult to believe that anybody in the dock would put currency in such large amounts in the pallet belonging to the appellant without his knowledge. Anybody putting such money would be interested in getting the same back when the container reaches its destination. It cannot be done without the connivance and the help of the exporter and the consignee. Moreover, the currency has been found on more than one occasions in the export consignments. Imposition of separate penalties on the company and the director - Held that: - There is no bar on the imposition of separate penalty on the company and the director - the director has played significant role and therefore penalty has been rightly imposed. Appeal rejected - decided against appellant.
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