TaxTMI 
TaxTMI 
2024 (10) TMI 395
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....aikh Mohd. Salim for the contravention of the provisions of Section 3(a) of Foreign Exchange Management Act, 1999 (FEMA) for an amount of Rs. 1,58,70,789/-. Foreign Exchange of value Rs. 7,06,816.40/- seized during the search from the premises of M/s Safar International Tours and Travels, Mumbai and from Shri Shaikh Mohd. Salim was confiscated under section 13(2) of FEMA. The Ld. Adjudicating Authority refrained from passing any order of confiscation for the seized Indian currency of Rs. 10,57,000/-. He did not impose penalty on two other notices viz. Shri Abdulla T., proprietor of Safar International Tours and Travels and Shri Manohar, office boy in the firm. 2. Revision Petition (R.P.) / Appeal filed by the Enforcement Directorate has ma....
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.... and international sectors; that initially he worked as a delivery boy and then became Assistant Manager; that his duties as an Assistant Manager, include booking of airlines ticket for domestic and international passengers; that he was receiving Rs. 7000/- as salary; that the salary was paid to him in cash and he didn't issue any receipt for it; that Shri Abdulla T, the owner of firm is in his native place in Kerala; and that his Manager Shri. Basheer Mohammed was looking after day-to-day affairs of the firm and that Shri Basheer Mohammed was paying him salary. He further stated that on 05-08-2002, the officers of Customs Preventive HQ IU R&I Division, Mumbai 1, searched the premises of Safar International Tours and Travels and seized ....
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....es up to US $5000/-; that Shri Abdulla T. provides the passengers with Indian currency to purchase the foreign currency; that the passengers then came to Mumbai with the money for ticket and foreign currency and contacted him; that as per requirement and on the instructions of Shri. Abdulla T, the passengers gave him the money to purchase the ticket and foreign currency; that he purchased the ticket from Atlas in cash and currencies are acquired by Shri Shaikh Mohd. Salim from the local black market; that the tickets and foreign currency is then given by him to the passengers, who then travelled abroad and on reaching Dubai, the foreign currencies are given by the passengers to Shri P.A. Rahiman; that the Indian currency of Rs. 10,57,000/-s....
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....esent at the time of the search; that when he saw the officers, he threw a packet of foreign currency wrapped in newspaper behind a cupboard placed in the office of Safar International Tours and Travels; that he was sitting with his friend and partner named Mohd. Abbas Poyyail, who was the manager of the said Safar International Tours and Travels; that he sat in the office of Safar International Tours and Travels and with the help of the said Mohd. Abbas Poyyail, did the business of illegal acquisition/purchase and selling foreign currency in cash; that he and Shri Mohd. Poyyail were the partners with a share of 50% each in the profit from the business of illegal purchase and sale of foreign currency; that he knew Shri Poyyail for the last ....