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TMI Blog2008 (7) TMI 791X X X X Extracts X X X X X X X X Extracts X X X X ..... edeem the same on payment of fine of Rs. 6,00,000/- under Section 125 ibid. He also confiscated the black coloured zipper bag and the blue and grey Diamond Star zipper bag, used for carrying the said foreign currency under Section 118(b) ibid. He also imposed penalty of Rs. 2,00,000/- on the appellant under Section 114(i) ibid. 2. Heard both the sides and perused the records. 3. Brief facts of the case are that the Customs Officers of Air Intelligence Unit, Sahar International Airport, Mumbai intercepted the appellant bearing passport No. F1489461, while he was proceeding to board the Emirates Airlines Flight EK 501/06-02-07, after completion of his immigration and customs formalities at the departure enclosure of Sahar Airport, Mumbai. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... cy of the Dubai Company, money on such transactions was required to be paid by the employee from his/her own sources. The company also provided personal loan for this purpose and after the deal was finalized, the company used to reimburse the actual amount spent for finalization of the deal and if it is a loan obtained from the company, the same is adjusted in the books of account of the company. The evidence on record shows that the company paid him loan of 2,00,000/- DHS. To bring this money to India, the DHS 1,83,750/- were converted by the appellant into US$ at Dubai through a money exchanger M/s. Federal Exchange, Dubai, UAE on 27-1-2007 for which there is evidence on record. The deal with M/s. Crescent Technologies could not be finali ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the time of departure. He gave details about the foreign currency, being carried out by him at the time of departure, only after he was intercepted by the Customs Officials, while proceeding to board the flight. It is not his case that he had voluntarily on his own declared the foreign currency to the Customs Officials post at the Departure. Thus, the contravention of the provisions of the Customs Act, 1962 read with FEMA Act, 1999 and the regulations framed thereunder is established against the appellant and it was rightly held by the Commissioner that the foreign currency is liable to confiscation and the appellant is liable to penal action. Having said that, I find that it is the first offence by the appellant. The fact of lawful acquis ..... X X X X Extracts X X X X X X X X Extracts X X X X
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