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2021 (3) TMI 1077 - HC - CustomsReduction in quantum of redemption fine and penalty - foreign currencies - currencies were attempted to be exported in violation of the Foreign Exchange Management (Import and Export of Currencies) Regulation, 2000, which tantamount to prohibition under Section 11 of the Customs Act, 1962 - authority to give an option for redeeming the goods on payment of fine, which is a discretion provided under the Act. HELD THAT:- We would have taken note of the said decision rendered by us in Commissioner of Customs (Air), Chennai-1 Vs. M/s.Premium Tours and Travels (Chennai) Pvt. Ltd. [2021 (2) TMI 659 - MADRAS HIGH COURT] and its applicability to the facts of the case provided provided that there was no earlier direction issued by the Tribunal dated 30.8.2007 where there was a positive direction issued to the Adjudicating Authority to grant redemption of the foreign currencies on payment of reasonable redemption fine. The Adjudicating Authority passed the order dated 26.12.2007 by fixing the redemption fine at ₹ 32 lakhs and levying penalty at ₹ 5 lakhs. The Tribunal exercised its discretion based on the direction issued by it in the earlier round of litigation and also taking note of its decision - Appeal dismissed.
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