https://www.taxtmi.com/caselaws?id=51503 Export of Indian currency notes in cash to Bhutan beyond the prescribed limit contravenes foreign exchange restrictions, notwithstanding permission for rupee transactions with Bhutanese residents in the course of trade. Permission to transact in rupees does not independently authorise physical carriage of currency notes outside India. Where the currency is carried in a bona fide business context involving Bhutanese nationals, absolute confiscation may be disproportionate; redemption on payment of fine may be permitted instead. The violation remains established, but the confiscatory consequence is moderated through an option to redeem the currency. en-us Wed, 15 May 2002 00:00:00 +0530 Sat, 25 Sep 2010 11:40:19 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=51503 Export of Indian currency notes in cash to Bhutan beyond the prescribed limit contravenes foreign exchange restrictions, notwithstanding permission for rupee transactions with Bhutanese residents in the course of trade. Permission to transact in rupees does not independently authorise physical carriage of currency notes outside India. Where the currency is carried in a bona fide business context involving Bhutanese nationals, absolute confiscation may be disproportionate; redemption on payment of fine may be permitted instead. The violation remains established, but the confiscatory consequence is moderated through an option to redeem the currency. Case-Laws Customs Wed, 15 May 2002 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=51503