2005 (12) TMI 616

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....the Respondent : T.K Gadoo ORDER O.P. Nahar, Chairperson. By virtue of this appeal, the appellant has challenged Adjudication Order No. ADJ/159/B/SDE/KNR/2004/4423, dated 26-5-2004 passed by Special Director, Enforcement Directorate, imposing a penalty of Rs. 44,42,600 for contravention of the provisions of section 8(3) read with section 8(4) Foreign Exchange Regulation Act, 1973, on the ....

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....from Union Bank of India is available where it is stated that bill of entry in respect of remittance in question is filed on 25-6-2004. Looking towards this aspect of the matter, this Tribunal has taken up this appeal for final disposal on merits. 3. As stated above, the authorized banker has said in its letter dated 25-6-2004 that Bill of Entry as proof of import of the goods against impugned ....

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....of acquisition of the foreign exchange. From this, it is quite clear that Bill of Entry has not been filed within 3 months as described in Para 7A.20 (Chapter-7) of the Exchange of Control Manual. Hence, the appellant had been, in these circumstances, negligent in filing the proof of import of goods. Therefore, the adjudication order is required to be sustained and maintained. 5. Admittedly, th....