2011 (11) TMI 422

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....oms, Mumbai on 21 March 1997 during the course of which certain foreign currencies together with Indian currency in the amount of Rs. 5.90 lakhs were seized. A notice to show cause was issued to the Petitioner by the Assistant Director in the Enforcement Directorate. An order of adjudication was passed on 19 May 1998 by which the foreign currencies seized from the premises were confiscated and a penalty of Rs. 1 lakh was imposed. The adjudicating authority, however, held that there was no concrete material evidence on the record to establish that the Indian currency in the amount of Rs. 5.90 lakhs represented the proceeds of foreign currency. Consequently, the Indian currency was ordered to be released to the Petitioner after obtaining no o....

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....f the PAN number and the Assessing Officer of the Income Tax Department to enable the claim to be processed. The Petitioner responded by a letter dated 22 July 2010. On 3 August 2010, the Petitioner was informed that no objection of the Income Tax authorities dated 12 May 2000 had been considered for processing the release of the amount, which it was stated, would be done shortly. The Petitioner was requested to bear with the Department for the delay. The Petitioner's Advocate addressed a notice dated 13 August 2010 in response to which he was informed by a letter dated 18 August 2010 that he may contact the Assistant Director (Administration) for the release of the Indian currency. Finally a notice was addressed on 24 August 2010. On 4 Oct....