2008 (12) TMI 499

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....al 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 smuggled diamonds by the Commissioner, it ought to....

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....een 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 merits. 5. Section 111 of the Customs Act....

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....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". 7. Section 121 of the Customs Act, 1962 deals ....