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2016 (2) TMI 854 - SC - CustomsPossession of old, silver, precious stone or foreign currency - offence punishable under Section 135(1)(a)(i) of the Customs Act, 1962 read with Section 13(1) of the Foreign Exchange Regulation Act, 1973 - sentenced to undergo two months rigorous imprisonment and a fine of ₹ 10,000/-, with default clause. - Held that:- the value of the goods which have been brought to India from Sri Lanka by the appellant is assessed at ₹ 12,27,730/-, therefore, in our considered opinion, the provisions of Section 135(1)(a) of the Customs Act, 1962 are not attracted. Further, the conviction under Section 13(1)(a) also cannot be sustained as the goods in relation to gold, silver, precious stone or foreign currency to be brought from abroad to India, then only it will constitute an offence under the aforesaid provisions. None of these goods have been brought by the appellant from Sri Lanka to India on the alleged date of the occurrence, therefore, the finding of reversal recorded by the first appellate court is bad in law and is liable to be set aside. - Decided in favor of appellants.
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