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2019 (10) TMI 897 - AT - CustomsRestricted import or not - Nepalese currency - N/N. FEMA 6/ RB-2000 dated 03.05.2000 - Confiscation - penalty - HELD THAT:- The confiscation ordered by Original Authority and sustained through impugned Order-in-Appeal is under the provisions of section 121 of Customs Act, 1962. Under said section of 121 of Customs Act, 1962 only such proceeds can be confiscated which are sale proceeds of sale of smuggled goods. It is established that there were no smuggled goods and therefore the question of sale of smuggled goods in the present appeal does not arise. Further when the smuggled goods are sold in India, they were sold against the exchange of Indian currency. How the smuggled goods are sold in exchange of Nepalese currency within the territory of India has not be explained anywhere by Revenue. Appeal allowed - decided in favor of appellant.
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