1990 (8) TMI 262 - AT - Customs

Summary

The appellant's appeal against the imposition of a penalty for possession of foreign currency was dismissed by the Appellate Tribunal CEGAT, CALCUTTA. The foreign currencies seized from the appellant's shop were deemed to be in his possession, leading to confiscation and a penalty under Section 112(b) of the Customs Act, 1962. The personal penalty of Rs. 5,000.00 was upheld as not excessive.