2003 (11) TMI 484 - AT - Customs

Summary

Issues:
1. Calculation of refund amount based on seized currency value.
2. Refund of balance Indian equivalent currency as per Tribunal's order date.

Analysis:
1. The Tribunal, in Final Order Nos. C-l/2874 & 2875/WZB/2001, upheld the confiscation of currency belonging to the applicants but allowed redemption on payment of a fine. The department issued a refund order based on the Indian equivalent currency value, leading to a dispute regarding the correct refund amount. The applicants argued for a higher refund amount of Rs. 37,87,694/- less Rs. 8 lakhs, equivalent to the seized currency value as of the Tribunal's final order date. They relied on a previous Tribunal decision in the case of Philips Fernandes, where the equivalent currency was directed to be paid as of the Tribunal's order date.

2. The matter was adjourned to verify the refund process in the Philips Fernandes case, where it was confirmed that the Indian equivalent currency as of the Tribunal's order date was refunded. Consequently, the Tribunal directed that the applicants in the present case should also be refunded the balance of the Indian equivalent currency as on the date of the Tribunal's order, i.e., 19-9-2001. The refund amount was to be processed within one month from the current date, resolving the issue and disposing of the matter conclusively.