2007 (2) TMI 47 - AT - Customs

Confiscation and Penalty (Customs) Appellants were carry Indian currency while going by air to Bhutan which is not permissible and accordingly redemption fine & penalty imposed on it Authority allow the appeal partly.

Summary

The appellant was carrying Rs. 1,50,000 Indian Currency to Bhutan, which was intercepted by Customs Officials. The appellant explained the currency was for a contract settlement in Bhutan. The currency was allowed to be redeemed on payment of a fine of Rs. 15,000. A penalty of Rs. 5,000 was imposed for violating FEMA provisions. The appeal was partly allowed.