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2015 (12) TMI 167 - AT - CustomsImposition of penalty under Section 114 - Seizure of currency - Held that:- On perusal of findings of the impugned order, the adjudicating has clearly brought out in detail the attempt of smuggling of Indian currency of ₹ 41,60,000/- by way of concealment. The original statement of both the appellant and the statement of other witnesses are clearly brought out in the said order. Attempt to smuggling of foreign currency has been clearly established. But for the timely detection the currency would have been smuggled out. Only after the seizure and arrest, the appellant were trying to disown the currency whereas subsequent statement has clearly proved otherwise. As per the statement recorded before the Customs it was a valid evidence and also based on the circumstantial evidences it is clearly brought out that attempt of smuggling of Indian currency belonged to Kirankumar and Anwar Aneesur Rahman carried the same as per the instruction of the first appellant. As per the statement recorded before the Customs it was a valid evidence and also based on the circumstantial evidences it is clearly brought out that attempt of smuggling of Indian currency belonged to Kirankumar and Anwar Aneesur Rahman carried the same as per the instruction of the first appellant. - present case relates to attempt to export of Indian currency in violation of Customs Act and FEMA. Therefore, appellants are liable for penalty under Section 114. However, taking into overall facts and circumstances of the case and also considering the acquittal of appellant in prosecution, I reduce the penalty - Decided partly in favour of assessee.
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