1984 (7) TMI 412

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..../Ban/82 (briefly the SCNs I, II and III) were issued to the appellant by the Enforcement Directorate, Madras (department) alleging that he was maintaining accounts in foreign currency abroad without repatriating the same to India within the period prescribed or without obtaining the exemption of the Reserve Bank of India (RBI) for maintaining such accounts abroad and thereby contravened the provis....

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....ngs were initiated against him by the department. The Adjudication Officer held that the charges were established and imposed penalties aggregating to Rs. 5,500. He also directed confiscation of the foreign exchange. Aggrieved by the order of the Assessing Officer, the appellant has filed this appeal. 2. The appellant who appeared in person submits that he had taken an assignment outside India fo....

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....n 14 of the Act and the Central Government. Notifications referred to in the SCNs. 3. On a careful consideration of the matter, I am satisfied that no wilful conduct on the part of the appellant is involved but there is no denying that he has contravened the provisions of the Act. I, therefore, confirm the finding of the Assessing Officer that the charges are established. 4. The appellant pleads....

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....hard-earned savings and the Assessing Officer has not given any finding that the foreign exchange was obtained by him in any unlawful or surreptitious manner so as to justify the confiscation. This Board has held in a number of cases that where the appellant is not in a position to explain satisfactorily the source from which he acquired the foreign exchange involved in the contravention and if t....