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2011 (8) TMI 579 - AT - CustomsPenalty - Confiscation of foreign currencies equivalent to Indian Rs.44,27,500/- under Section 111(d) and personal penalties imposed under Section 124 - Held That:- Department has established beyond reasonable doubt that the appellants colluded with each other in the Customs area for the prospective export of the foreign currency without any permission of the Reserve Bank of India.Thus appellant liable for penalty Section 114. Further role played by S.S. Roy by misusing his official position to the detriment of public interest is particularly deplorable.The man who knows the law shall not deteriorate with it. The quanta of penalties imposed on the appellants are not liable to be reduced.
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