TMI Blog2018 (11) TMI 534X X X X Extracts X X X X X X X X Extracts X X X X ..... us other laws in force but also by attempting to export the foreign currencies to a foreign country in contravention of Section 77 of the Customs Act, 1962. The Commissioner (Appeals) has overlooked these relevant facts while imposing redemption fine and reducing the penalty from ₹ 13 Lakhs to ₹ 2 Lakhs. The government considers that it would be just and proper if the confiscated foreign currencies are allowed to the respondent on payment of redemption fine of ₹ 7 Lakhs and personal penalty of ₹ 5 Lakhs - the revision application filed by the revenue is allowed. - F. No. 380/108/B/2016-R.A. - Order No. 43/2018-Cus - Dated:- 23-3-2018 - Shri R.P. Sharma, Additional Secretary ORDER A Revision Application ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... absolutely confiscated foreign currency which are prohibited goods, by imposing small redemption fine of ₹ 2 Lakhs only and by drastically reducing the personal penalty on the respondent from ₹ 13 Lakhs to ₹ 2 Lakhs. The respondent, in his reply dated 25-10-2017 or in his submissions during his personal hearing on 8-3-2018, has not denied that he had attempted to illegally export the foreign currencies after having procured the same in India from illicit resources and he has only submitted that he did not have proper knowledge with regard to foreign currencies. Even the Commissioner (Appeals) has clearly held in his order that foreign currency is prohibited goods and has been correctly confiscates by the adjudicating autho ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... toms Act, 1962. The Commissioner (Appeals) has overlooked these relevant facts while imposing redemption fine and reducing the penalty from ₹ 13 Lakhs to ₹ 2 Lakhs. Above all, he has not assigned any reason for doing so. Therefore, considering the serious nature of the offence committed by the respondent, the Government accepts the revenue s case that the Commissioner (Appeals) has definitely committed an error by not imposing appropriate redemption fine and penalty. Accordingly, the government considers that it would be just and proper if the confiscated foreign currencies are allowed to the respondent on payment of redemption fine of ₹ 7 Lakhs and personal penalty of ₹ 5 Lakhs. 4. In terms of the above discussio ..... X X X X Extracts X X X X X X X X Extracts X X X X
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