9911796707
TMI Blog2017 (4) TMI 139X X X X Extracts X X X X X X X X Extracts X X X X ..... ons. With the consent of the Revenue's counsel, we have taken it for final hearing. On the last occasion and today, we have heard the counsel at some length and with her assistance, we have perused the appeal, including the impugned order. 2. The appeal was admitted on the three substantial questions of law, which have been framed on 14th June, 2007. 3. The Revenue approached this cour ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e Customs Act, 1962. That was liable for confiscation under the provisions of Section 113(d), (e) and (h) of the Customs Act, 1962. The order-in-original directed confiscation of this currency without any option for redemption and also imposed penalty of Rs. 3,00,000/- each on these two persons. Being aggrieved and dissatisfied, they filed an appeal before the Customs, Excise and Service Tax Appel ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... se of Pankaj Jagda - 2004 (171) E.L.T. 125 (Tri.-Mum.). 6. We do not find any merit in the learned counsel's argument that the course adopted by the Tribunal was impermissible. The definition of the term "goods" includes currency and negotiable instruments [see Section 2(22)(d)]. When the power of redemption is exercised, what the law postulates is that there is an option to pay fine in lieu ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... hat since the foreign currency is redeemed on payment of fine, the penalty also deserves to be scaled down or reduced. This is essentially a finding of fact rendered after consideration of the materials on record. We do not think that the Tribunal was in error in adopting the course that it has adopted. We do not find any merit in the appeal. It is dismissed. X X X X Extracts X X X X X X X X Extracts X X X X
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