2008 (5) TMI 481

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....cation of Indian currency of Rs. 70,670/- ordered under Section 121 of the Act as also against penalty of Rs. 50,000/- imposed under Section 112(b) of the Act. In the impugned order, the learned Commissioner of Customs had also confiscated 59 gold biscuits of foreign origin seized from Shri Kondedan Sukumaran, S/o Shri Imbichunni under Section 111(d) and (1) of the Act. The said Shri Sukumaran's Appeal No. C/516/2005 was disposed of by this Bench vide Final Order No. 175/2008 dated, 27-2-2008. The case of Shri Koodathil Basheer is that the above currency, which was seized by the investigating officers from his possession, was meant for payment of consideration for an immovable property in terms of a sale agreement dated 9-10-1998 which had ....

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....otice, Shri Basheer had produced the affidavit of Shri Kondedan Sukumaran S/o. Shri Velayuthan to prove his case based on the sale agreement, but the same was also not considered. For these reasons, it is prayed that the confiscation of the currency as well as the penalty be set aside. Learned SDR reiterates the relevant findings of the Commissioner and also submits that the belated retraction of confessional statement by Shri Basheer was also considered by the Commissioner and rejected on a reason stated in the impugned order. 2. After giving careful consideration to the submissions, we have found substance in some of the contentions raised by Shri Koodathil Basheer and his counsel. The currency was alleged to be sale proceeds of t....