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2014 (8) TMI 910 - CESTAT MUMBAIConfiscation of currency - Currency neither declared nor permitted by RBI for export - Penalty - Held that:- The general principle is that on whose possession the goods are found then that person is to be owner of the goods. In this case, the currency has been recovered from the possession of the appellant and the appellant claims the owner of the goods and the adjudicating authority is holding that he is not the owner of the goods. Therefore, the onus lies on the adjudicating authority to find out who is the owner of the goods. As he has not arrived at a decision as who is the actual owner of the goods, therefore, in all probability the appellant is the owner of the goods as the currency has been recovered from his possession on 08.12.2004. Further, the absolute confiscation has been done by the adjudicating authority holding that the appellant is not the owner of the goods is incorrect in the light of the findings here-in above. Therefore, in these circumstances, I hold that the absolute confiscation of the currency is not warranted. Accordingly, I hold that the Indian currency can be released to the appellant on imposition of redemption fine and penalty - appellant has suffered for 9 ½ years and the quantum of currency is about ₹ 24 lakhs which was seized on 08.12.2004 and also has made expenses on litigations to get the currency released therefore quantum of redemption fine is determined to 10% of the currency seized. I also find the penalty of ₹ 2 lakhs is appropriate. - adjudicating authority to release the currency seized on payment of redemption fine of 10% of currency seized and on payment of penalty of ₹ 2 lakhs - Decided partly in favour of assessee.
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