TaxTMI 
TaxTMI 
2008 (9) TMI 852
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....why penalty has been imposed is that it has been found that the petitioner during the period 1992-93 had received and made payments to the tune of Rs. 1,89,73,000/- in India by an order for and on behalf of persons outside India without the permission of the R.B.I. The tribunal has passed a reasoned order. The tribunal has found that the petitioner was deeply involved with Tiger Memon, who was responsible for 1993 blast in Mumbai. The tribunal has also held that the contention of the petitioner that he was not given personal hearing also cannot be prima facie accepted. The tribunal has also referred to the confessional statement made by the petitioner before the TADA Court proceedings. The learned counsel appearing for the petitioner argued....
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....tained and, therefore, according to the learned counsel requiring him to deposit money will cause undue hardship to the petitioner. He further submitted that it is also not established that when he allegedly received money and made payment to Tiger Memon he was not residing in India. 2. This is a petition filed under Article 226 of the Constitution of India. Article 226 confers extraordinary jurisdiction on this Court to interfere when the Court find that the action impugned before it has resulted in failure of justice and the jurisdiction is always to be exercised to advance public interest. The order either dispensing with the requirement of predeposit or not dispensing with the requirement is essentially an order in the discretio....
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....l though reveals that A-97 was involved in commission of offence u/s. 3(3) of TADA still there is paucity of material or the absence of material cementing him with the conspiracy for which the charge at head firstly framed against him. Or in other words it can be said that though acts committed by A-97 were in the nature of giving financial assistance to the Tiger Memon who was involved in commission of Terrorist Acts, still the same does not reveal of A-97 having committed the same for furthering the object of conspiracy. In view of the same and mere knowledge of conspiracy being not a sufficient factor for making a person liable for commission of offence under conspiracy, A-97 cannot be held guilty for the offence of conspiracy for which ....
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....on of A-97 as found corroborated by the material in the confession of A-10, 46, 26 and the other evidence it is crystal clear that account by name Hati was opened by Tiger Memon with A-97 and the said account was operated by him through A-10, 46 & 26 either as per his direction or as per the direction given by A-l Yakub Memon. The relevant material clearly reveals that the money was circulated through the said account and the same was used for making the payments for the operation which were effected in pursuance to the conspiracy. The matters from the confession of A-97 in Clauses No. 5, 6 and 7 reveals the manner in which the amounts were deposited in the said Hati A/c. and the matters in cl. No. 8, 9 & 10 reveals the manner i....
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....sp; A-10 - Asgar Yusuf Mukadam in the same account had deposited Rs. 12 lakhs on 23-12-1992, Rs. 13.25 lakhs and Rs. 3 lakhs on 28-12-1992. 7. A-26 had informed A-97 that the said amounts were from the sale of smuggled silver in the market. 8. A-10 - Asgar Yusuf Mukadam had removed Rs. 5 lakhs from the said account by sending a person and another amount of Rs.5 lakhs on 9-2-1993 and further an amount of Rs. 5 lakhs on 11-2-1993. 9. On 13-2-1993 A-10 - Asgar Yusuf Mukadam had been to A-97 with a bared person and removed an amount of Rs. l crore from the said Hathi Account of Tiger Memon. 10. &nb....
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.... involved of A-97 in offence of conspiracy will be required to be answered in consonance with the conclusion arrived during the same, i.e. point No.180 in the affirmative of A-97 being guilty for commission of offence u/s. 3(3) of TADA while the points pertaining to the conspiracy will be required to be answered in negative i.e. himself being not guilty for any offence of conspiracy as suspicion even of high degree can never take place of proof of a liability of commission of criminal offence. Hence the said points stand answered accordingly." 3. It was submitted by the learned counsel appearing for the petitioner that because of the detention of the petitioner for five years and because of the requirement of attending the TADA Cour....