2011 (4) TMI 1285

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.... law. "1. Whether non-compliance of Foreign Exchange Management (Import and Export of Currencies) Regulation, can be considered as procedural lapse? 2. Whether the Hon'ble Tribunal was right in rejecting the prayer of the Revenue for enhancement of the fine and penalty solely on the ground that the offence committed by the respondent is of procedural nature? 3. Whether the ....

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....on 3(1)(a) of the Foreign Exchange Management (Export & Import of Currency), Regulations, 2000, he ordered confiscation of the Indian currency of Rs. 50,00,000/- under Section 113(d) and 113(h) of the Customs Act, 1962. However, the Original Authority recorded the finding that as the passenger appeared to be a genuine tour operator for Haj pilgrimage as seen from the records and receipts produced,....

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.... approached the Tribunal by way of cross appeal. The Tribunal found that the lapse on the part of the assessee was only procedural in nature in not obtaining valid Reserve Bank of India permit to take Indian currency outside India. Having regard to the above said aspect and that the assessee was a genuine Haj Tour Operator, while upholding the confiscation, the Tribunal reduced the fine to Rs. 5 l....