9911796707
TMI Blog1990 (8) TMI 262X X X X Extracts X X X X X X X X Extracts X X X X ..... mber (J)]. Being aggrieved by the orders passed by the learned Collector of Customs and Central Excise (Appeals), Calcutta in Order No. Cal-I-CEX-111/88 dated 8-9-1988 the appellant has preferred this appeal. In terms of the above order, the learned Collector confirmed the imposition of penalty of Rs. 5,000.00 on the appellant. This case pertains to the seizure of foreign currency in the nat ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... tion of Section 13 (1) of the Foreign Exchange Regulation Act, 1973 and the appellant was found in possession of the same. It is admitted that the above currencies were seized from the counter of the shop of the accused. The learned Consultant, Shri K.P. Dey stated that if the currencies were those of the appellant he would not have kept it in such a place where the public had access. The counter ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e same is deemed to be in the possession of the appellant and there is no other conclusion which could be drawn from the facts of the case. Accordingly, the foreign currencies are liable for confiscation and the appellant is liable to be penalised under Section 112 (b) of the Customs Act, 1962. The learned Collector has taken into account that the value of the foreign currencies is Rs. 67,293. 10p ..... X X X X Extracts X X X X X X X X Extracts X X X X
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