2006 (11) TMI 394

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... e Appellant. Shri S.N. Prasad, SDR, for the Respondent. [Order per : Jyoti Balasundaram, Vice-President]. We have heard both sides on the applications for waiver of pre-deposit of penalty of Rs. 50,000/- imposed on each of the applicants under the provisions of Section 114(i) of the Customs Act, 1962 on the ground that they abetted smuggling of foreign currency out of India by one Sh .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... he had not purchased any TCs and the signatures endorsed on the TCs were not his signatures. As regards Wall Street Finance Ltd., the Commissioner has accepted the statement of one Shri Javed Ahmed Latif Shaikh to whom TCs of US$ 500 were purported to have been issued, that he had not purchased any TCs from this FFMC, by relying upon the discrepancy in the signature of Javed Ahmed Shaikh as per h .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... passports, photocopies of which are before us. As regards Wall Street Finance Ltd., no comparison has been attempted between the signature on the cash memo of Javed Ahmed and the signature in his passport. Prima facie the fact that there is a difference between his signature on his statement and his signature on the cash memo is not sufficient to hold that Wall Street Finance Ltd. did not verify .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X