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TMI Blog2025 (5) TMI 1628X X X X Extracts X X X X X X X X Extracts X X X X ..... r 2016. The appellants are aggrieved with the penalties as imposed upon them under Section 112 (a) and 112 (b) and 117 of the Customs Act, 1962. 2. The present case is that of a seizure of 41 gold bars weighing 27.974 kgs and 3 cut pieces of gold weighing 1.001kg. Indian currency worth Rs. 1,48,67,500/- and 17,50,000/- was also seized as sales proceeds of smuggled gold besides other items including the Mahindra Bolero car, concerned with the alleged smuggling of gold. Though the appellant in the appeal filed have indicated that they have also challenged the order of confiscation of gold and Indian currency, the Counsel for the appellant on a specific query from the Bench has confirmed that in the impugned appeals, they were now challenging ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e that of 17,50,000/- was recovered from the residence of Luv Kush Pandey on 18/12/2014 & 17/12/2014 respectively. 4. Rahul Khanna is the Director of Kiran Forex Ltd. which firm is licenced for sale and purchase of currency. 5. The Learned Counsel for the appellants has argued that penalties imposed have been extremely harsh and the appellants had no role to the extent in the matter. He pleads for leniency in the penalties as imposed on the appellants. 6. As brought out in the investigations, Shyam Sundar Mishra had gone to Siliguri upon the directions of Rahul Khanna, his employer. Luv Kush is a resident of Delhi who owns a shop in Delhi in Chandni Chowk area. While Sanjay Mishra was a Rikshaw driver based out of Delhi who also worked f ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... t of valid acquisition of foreign marked gold. They also were not able to satisfy the licit procurement of Indian currency, seized under the belief of being the sale proceeds of smuggled gold. The Adjudicating Authority, notes that upon receipt of expert legal advice, the appellants have attempted to change their original stance, that the accomplices/co-noticees had described true facts in the course of their spontaneous statements, recorded under Section 108 of the Customs Act and has therefore dismissed belated retractions filed purely as an after thought, as a mechanical and a futile attempt for escaping the clutches of law. Investigations clearly bring out that Shyam Sundar Mishra and Sanjay Mishra acted as carriers for petty gains and ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ods liable to confiscation under section 111, or abets the doing or omission of such an act, or (b) who acquires possession of or is in any way concerned in carrying, removing, depositing, harbouring, keeping, concealing, selling or purchasing, or in any other manner dealing with any goods which he knows or has reason to believe are liable to confiscation under section 111, shall be liable, - (i) in the case of goods in respect of which any prohibition is in force under this Act or any other law for the time being in force, to a penalty [not exceeding the value of the goods or five thousand rupees], whichever is the greater; [(ii) in the case of dutiable goods, other than prohibited goods, subject to the provisions of section 114A, ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Penalties for contravention, etc., not expressly mentioned. - Any person who contravenes any provision of this Act or abets any such contravention or who fails to comply with any provision of this Act with which it was his duty to comply, where no express penalty is elsewhere provided for such contravention or failure, shall be liable to a penalty not exceeding [four lakh rupees]. 8. The Adjudicating Authority has clearly brought out the role play and involvement of the four accused and the company Kiran Forex Pvt. Ltd. and has imposed penalty on the appellants as indicated below:- (i) Rs. 38 lakh on Rahul Khanna, (ii) Rs.20 lakh on Luv Kush (iii) Rs.10 lakh on Shyam Sundar Mishra (iv) Rs.2 lakh on Sanjay Mishra (v) Rs. 1 lakh o ..... X X X X Extracts X X X X X X X X Extracts X X X X
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