TaxTMI 
TaxTMI 
2014 (10) TMI 267
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....ue has preferred this appeal against the order passed by the Tribunal reducing redemption fine as well as penalty imposed by the adjudicating authority. 2. The assessee was carrying with him US $ 21,800. He was intercepted while he was boarding Flight UL 172 on 25-3-2004 Kuwait via Colombo. The US dollars were found in his possession. It was illegal possession. The said currency was not purc....
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....eld. However, he was of the view that absolute confiscation is very harsh and therefore, in his opinion the confiscated currency could be released with redemption fine. Accordingly, he upheld the order of confiscation and penalty but directed release of the currency on payment of redemption fine of Rs. 6,00,000/-. 4. The said order was challenged by the assessee before the Tribunal. Before t....
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.... did not contest the case on merits. He only wanted reduction of the redemption fine. The Appellate Commissioner who passed an order for redemption of the confiscated currency in his order has stated in the light of the case law cited by the assessee in favour of release of seized currencies on redemption fine, he was inclined to agree with their contention for the reason that the absolute confisc....
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.... finding of fact, it is thereafter he has passed an order of confiscation and also imposed penalty. Such a well considered order cannot be interfered with by the higher authorities even though they have the power to modify or vary such orders, without assigning any reasons. In that view of tin matter, the approach of the higher authorities are whimsical, unsupportable and contrary to law. In that ....