2008 (12) TMI 499

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....pondent. [Order]. -  This appeal has been filed by the Revenue on the limited point of allowing redemption of the seized currency of Rs. 1,00,000/-, by the Commissioner of Customs (Adjudication), New Custom House, Mumbai vide Order-in-Original CAO No: 57/2007/CAC/CC/KS dated 30-3-2007. 2. According to the Revenue, when the currency was held to be the sale proceeds of the smuggle....

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....aring scheduled to be held on 12-11-2008, has been displayed on the notice board of the DRI office under a panchanama dated 5-11-2008. A copy of the panchanama was also enclosed for perusal. From the above, it is clear that sufficient opportunities have been extended to the respondent to appear for hearing but he has failed to avail himself of the same. Hence, the case is taken up for disposal on ....

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....from where he got it and how he got it, it is proved beyond doubt that a quantity of 290.69 carats of diamonds seized is smuggled into India and Shri Ratnesh Gupta was dealing in smuggled diamonds. In view of Shri Ratnesh Gupta's claim of Rs. 1,00,000/- as sale proceeds it is evident that the same is sale proceeds of smuggled cut and polished diamonds and accordingly it is liable to confiscation".....