TaxTMI 
TaxTMI 
2004 (10) TMI 447
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....spondent. [Order per : Archana Wadhwa, Member (J)]. - Vide his impugned order Commissioner of Customs, Mumbai have absolutely confiscated foreign currency equivalent to Indian currency of Rs. 11,28,640/- and has also imposed personal penalty of Rs. l lakh. The said currency was recovered from the appellant, who was intercepted by the Customs (Preventive) Officers at the time of boarding Iran Ai....
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....above basis proceedings were initiated against him proposing confiscation of the currency and for imposition of personal penalty. The said proceedings culminated into an impugned order resulting in absolute confiscation of the same and imposition of personal penalty of Rs. 1 lakh on the ground that the appellant could not produce general or special permission from the Reserve Bank of India for the....
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....d that the same was withdrawn by the appellant from his bank account in Iran about a month back from date of his departure from that country. On being asked whether the said currency was declared at the time of entering into India, he fairly agreed that the same was not declared. 4. After hearing Shri Sanjay Singhal, ld. JDR appearing for the revenue, we do not find any merits in the above p....
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....and the fact of withdrawal of cash from bank by itself cannot be held to be conclusive proof of importation of the currency in question. In any case export of the currency without the permission of RBI has been established and the confiscation of the currency is to be upheld. 5. At this stage the ld. Advocate submits that there is no justification for absolute confiscation of the currency an....