TaxTMI 
TaxTMI 
2001 (5) TMI 63
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....titioner under Section 124 of the Customs Act calling upon him to show cause as to why the foreign currency equivalent to Rs. 73,85,423.20 under seizure should not be confiscated to the Government under Sections 113(d), 113(e) and 113(h) of the Customs Act, 1962 and why some of his properties mentioned in Para 24 should not be confiscated to the Government under Section 119 of the Customs Act, 196....
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....s of other Acts like the Customs Act did not come within the jurisdiction of the Compounding Authority under FEMA. It was held that since no case had been registered or initiated against the petitioner for investigation under any of the provisions of FEMA, 1999 by any of the authorities and action taken by the DRI authorities under the Customs Act has been held as valid by the Single as well as Di....
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.... compounding should have been considered on merits under the provisions of FEMA and could not have been rejected only on the ground that no notice had been issued to the petitioner or no case had been registered against him under FERA or FEMA. 3. I am not impressed with the arguments advanced by learned Counsel for the petitioner. The area of operation of FEMA and Customs Act are totally differe....