1999 (6) TMI 489

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....cation order No. 32/96/AD dated 31-12-1996 imposing a penalty of Rs. 2,000 for not offering for sale the foreign currency of US $670 to an authorised dealer within a period of 90 days after the appellant returned back from foreign tour, thereby contravening the provisions of section 8(3) of the Foreign Exchange Regulation Act, 1973 ('the Act') and also confiscating the seized foreign currency of U....

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....ssion of foreign currency by saying that this foreign currency is a left-over amount and he could not sell the same to an authorised dealer or a money changer even after the expiry of more than 3 months because his daughter fell seriously ill and he remained mentally and physically preoccupied due to the serious illness of his daughter. 4. A show-cause notice No. 21/96/SCN/AD dated 18-9-1996 wa....

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.... to an authorised dealer within prescribed period inasmuch as that his daughter, a student of higher secondary suffered at relevant time from serious illness and his preoccupation despite him being a law abiding citizen caused the delay. The appellant prayed for lenient view and reduction in the penalty. According to him, the violation of the provisions of Act, 1973 occurred due to unfortunate cir....