Tax Management India. Com
                        Law and Practice: A Digital eBook ...

Latest Cases

TMI - Tax Management India. Com
Case Laws Acts Notifications Circulars Classification Forms Manuals SMS News Articles
Highlights
D. Forum
What's New

Share:      

        Home        
 

TMI Blog

Home List
← Previous Next →

2019 (5) TMI 1049

..... nto Indian Currency - Notification dated 14th February 2006 issued by CBEC - requirement of notice - HELD THAT:- The fact of the matter is that the foreign currency seized from the Petitioner, no longer exists as such. Learned counsel appearing for the DRI states on instructions that the said foreign currency has been disposed of by conversion into Indian currency in terms of Section 150 of the Customs Act, 1962. He has produced a copy of the notification dated 14th February 2006 issued by the Central Board of Excise and Customs - the said notification requires notice to be issued to the owner of the goods prior to its disposal. In the present case, the case of the Petitioner is that no such notice was received by him before disposal of the .....

X X X X X X X

Full Text of the Document

X X X X X X X

..... unt payable will be worked out by applying the conversion rate as of today and paid to the Petitioner in the manner prescribed by law i.e. whether by Demand Draft or a Banker’s Cheque. Petition allowed. - W.P.(C) 2137/2019 - 14-5-2019 - S. MURALIDHAR AND I.S. MEHTA JJ. Petitioner Through: Mr. D.S. Chadha, Advocate with Ms. Harsimaran and Ms. Esha Sharma, Advocates. Respondents Through: Mr. Ajit Sharma, Advocate with Mr. Talha Abdul Rahman, Mr. Ashutosh Senger and Mr. M. Shaz Khan, Advocates for DRI. Mr. Harpreet Singh, Senior Standing Counsel with Ms. Suhani Mathur, Advocate for R-2. O R D E R CM APPL. 10000/2019 (for exemption) 1. Allowed, subject to all just exceptions. W.P.(C) 2137/2019 & CM APPL. 22498/2019 (for modification o .....

X X X X X X X

Full Text of the Document

X X X X X X X

..... DRI, it was noted that the order dated 5th June 2018 passed by the Additional Secretary had been accepted by the Competent Authority. It was also noted that the Petitioner had deposited the redemption fine of ₹ 12,35,000/- and penalty of ₹ 5,00,000/- on 4th October 2018. It was accordingly requested by the Joint Commissioner of Customs to the DRI that since, as per available records, the case was booked by your office and the seized currency is also lying with your office, therefore, it is requested to do the needful for release of the said foreign currency to Sh. Sudhir Kumar (the Pax) under intimation to this office after completion of any other formalities, deemed necessary from your end. 7. Thereafter, despite, several reque .....

X X X X X X X

Full Text of the Document

X X X X X X X

..... 0. The said application being CM No. 22498/2019 was listed before this Court on 10th May 2019. This Court rejected the prayer for modification of the order dated 10th April 2019 but issued notice only in respect of prayer B viz., that the obligation to comply with the order of this Court was of the Customs. 11. It appears that on 14th May 2019, the Customs addressed a communication to the Additional Director General (ADI) asking the DRI to comply with the order dated 10th April 2019 passed by this Court. 12. This Court has heard learned counsel for the parties. 13. The fact of the matter is that the foreign currency seized from the Petitioner, no longer exists as such. Learned counsel appearing for the DRI states on instructions that the sa .....

X X X X X X X

Full Text of the Document

X X X X X X X

..... this Court to dispute the contention of the Petitioner that he did not receive any notice prior to the conversion of the foreign currency into Indian rupees. Counsel for the Petitioner has placed before the Court the exact amount in Indian rupees that is payable to the Petitioner by converting the foreign currency that was seized from him into Indian rupees by applying the conversion rates as of today i.e. 14th May 2019. The Court finds the plea of the Petitioner that he should be paid the Indian rupees equivalent by applying the conversion rate as of today to be entirely justified in the facts and circumstances of the case. 17. The Petitioner s calculation of the amount payable after applying the conversion rate for the various foreign cu .....

X X X X X X X

Full Text of the Document

X X X X X X X

 

 

← Previous Next →

 

 

|| Home || About us || Feedback || Contact us || Disclaimer || Terms of Use || Privacy Policy || Database || Members || Refer Us ||

© Taxmanagementindia.com [A unit of MS Knowledge Processing Pvt. Ltd.] All rights reserved.
|| Blog || Site Map - Recent || Site Map ||