COMMISSIONER OF CUSTOMS, CHENNAI Vs. SAVIER POONOLLY

JUDGEMENT

(1.) The Revenue has filed the present Civil Miscellaneous Appeal against the order of the Tribunal allowing the confiscated currency to be redeemed on payment of fine of Rs. 2.00 lakhs and reducing the penalty imposed by the Adjudicating Commissioner from Rs. 5.00 lakhs to Rs. 1.00 lakh. The brief facts are as follows:

(2.) On hearing the submissions made by the passenger and also the records, the Commissioner came to hold that the foreign currency equivalent to Indian Rs. 26,42,625/, attempted to be exported out of India without any valid document and for which there was no proof of legal acquisition, was liable for confiscation under Section 113(d), (e) and (h) of the Customs Act, 1962 read with Foreign Exchange Management (Export & Import of Currency) Regulations, 2000, framed under Foreign Exchange Management Act, 1999 and also liable for penal action under Section 114(i) of the Customs Act, 1962. Accordingly, the Commissioner of Customs passed the following order:

(3.) Aggrieved by the order of the Adjudicating Authority, an appeal was preferred before the Customs, Central Excise and Service Tax Appellate Tribunal. The Tribunal, by a brief order, dated 26-4-2005 set aside the order of absolute confiscation and allowed the redemption of foreign currencies on payment of a fine of Rs. 2.00 lakhs and also reduced the penalty. The Tribunal while disposing of the appeal, held as follows: