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2013 (10) TMI 33 - AT - CustomsPenalty - Confiscation of foriegn currency - Held that:- It is not disputed by the adjudicating authority that a person who is going abroad can carry USD 25000 with him. Therefore, the contention of the ld. Counsel is acceptable that redemption fine and penalties are on higher side as held by the tribunal in the case of Savier Poonolly (supra). Therefore, we are of the opinion that redemption fine and penalties are to be considered separately for each of the appellants. As Shri Rajesh Narendra Mewawalla was carrying USD 105,800 and Thai Baht 139,070 therefore, considering the quantum, we impose redemption fine of Rs.6 lakhs (Rupees Six lakhs) and reduced penalty to Rs. 3 lakhs (Rupees Three lakhs) on Shri Rajesh N. Mewawall under sec. 114(i) of the Customs Act, 1962. With regard to Shri Arun Ramlal Sura who was carrying USD 40,000/- and British Pounds 520 therefore, redemption find of Rs.1,00,000/- (Rupees One lakh) is imposed and penalty is reduced to Rs.50,000 - Shashikant Munshilal Katiyar was carrying USD 1100 which is within the permissible limit, therefore, no redemption fine is imposed on him and penalty is also dropped - Decided partly in favour of assessee.
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