2014 (8) TMI 910

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..... s in appeal against the impugned order wherein the Indian Currency smuggled outside India was seized and absolutely confiscated and a penalty of Rs. 2 lakhs has been imposed on the appellant. 2. Brief facts of the case are that on intelligence, the appellant was intercepted at Sahar Airport on 08.12.2004 and during the search, Indian currency of Rs. 24,17,500/- was found with the appellant which .....

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..... t or Indian currency can be redeemed by imposition of redemption fine and penalty. The said reference has been answered by the Larger Bench of this Tribunal holding that in case a person attempted to export Indian currency outside India without permission of RBI more than Rs. 5000/- or Rs. 10,000/- in that case the Indian currency can be absolutely confiscated and it is discretion of the proper of .....

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..... y the appellant and have not given prudence to the statement of ShriP.Muhammed and held that the currency does not belong to the appellant. The adjudicating authority has also failed to prove that if the currency does not belong to ShriP.Muhammed then to whom the currency belongs. Therefore, the findings of the adjudicating authority that as per the initial statement given by the appellant the cur .....

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..... 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 .....

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..... 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 Rs. 2 lakhs is appropriate. 8.1 In these circumstances, I direct the adjudicating authority to release the currency seized on payment of redemption fine of 10% of currency seized and on payment of penalty of Rs. 2 lakhs. Appeal is disposed of in .....

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