2017 (11) TMI 102

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....against Order-in-Appeal No.128/2016 dated 25.02.2016. 2.  Heard both sides and perused the records. 3.  On perusal of records, it transpires that the appellant is contesting the confiscation of foreign currency recovered from him at the Bangalore International Airport.  When questioned by the authorities, he informed that he was scheduled to travel to Sri Lanka and is carrying....

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....ncies are absolutely confiscable.  Coming to such a conclusion that confiscation is correct, he extended the option to redeem the total currencies on payment of redemption fine of Rs. 10,00,000/- and reduce the penalties of Rs. 2,00,000/- under section 114(i) and Rs. 1,00,000/- under section 114 (aa) of the Customs Act, 1962. 5.  Learned Counsel draws my attention to the various groun....

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....n shifting the stand in possession of such amount of currencies that also travelling to Sri Lanka and is incorrectly stated that he is going for medical treatment to Sri Lanka.  7.  On careful consideration of submissions made, I find that the first appellate authority in the order impugned recorded the finding in Para 5 wherein he has come to a conclusion that appellant requires this....

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....owever, I find against the confiscated currency to the total value of Rs. 38,58,562/-, it is ordered that it may be released on payment of redemption fine of Rs. 10,00,000/- seems to be excessive.  In my view, the ends of justice will be met if the redemption fine is reduced to Rs. 5,00,000/-.  I find that the penalty imposed and subsequently reduced by the first adjudicating authority a....