2004 (9) TMI 717

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....This order of the Appellate Tribunal for Foreign Exchange is delivered by O.P. Nahar, Chairperson. This is an appeal against Adjudication Order ADJ/1428/AD(AA)/B/2003 dated 21-10-2003 passed by Assistant Director of Enforcement, Mumbai imposing a penalty of Rs. 18,10,000 on the appellant for violation of section 8(3) read with section 8(4) of Foreign Exchange Regulation Act, 1973. 2. The app....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....nsel for the appellant has further mentioned that the equipment was imported and bill of entry for home consumption issued by Customs was submitted to the authorized bank i.e., Global Trust Bank. The appellant-company has also paid Customs Duty amounting to Rs. 6,21,971. Photocopies of all the relevant documents have been produced before this Tribunal in proof of import having been made. Global Tr....