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TMI Blog2009 (7) TMI 1059X X X X Extracts X X X X X X X X Extracts X X X X ..... ies and proprietor of the trading units. All the units have a common office. The factory premises of the two manufacturing units and the common office was searched by the DGCEI officers on 16-12-2006, who resumed various documents under a punchnama. The officers also found Indian Currency of Rs. 4 lakhs from the office premises. On a reasonable belief that the same is the sale proceeds of the imported re-melted copper ingots/copper wire bars which the appellants have purchased on high sea sale basis but have diverted enroute, the said currency was seized by the officers. The same stands absolutely confiscated in terms of the provisions of Section 12 of Customs Act, 1962, as made applicable to Central Excise matters along with imposition o ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... contended that Shri Mehta, Administrative and Finance Controller of the trading unit, in his statement recorded on 24-4-07 has claimed the said amount and has given explanation for the same. The authorities below have rejected such claim, without considering the same and on the ground of an after thought. By relying upon various decisions, learned advocate submits that the ingredients of Section 121 are not fulfilled and as such confiscation of Indian Currency and imposition of penalties was not justified. 4. After going through the impugned orders and the submissions made by the learned DR, which is reiteration of the reasoning adopted by the authorities below, I find that admittedly the investigations in respect of fraudulent availment ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... fiscation was set aside. The facts of Sipani Fibres Limited v. CCE., Bangalore reported in 2007 (212) E.L.T. 374 (Tri.-Bang.) = 2007 (6) S.T.R. 197 (Tribunal) are more or less pari materia to the facts of the present case. Therein allegations were made about the unauthorized availment of Cenvat credit on the granules purchased but diverted and not utilized. Tribunal after observing that not a single instance stands given by the investigation for purchase of plastic granules from the appellant, confiscation of the currency cannot be sustained. 6. By applying the ratio of the above precedent judgments to the facts of the present matter, I find that the Revenue has not produced even an iota of evidence to show that the currency in question i ..... X X X X Extracts X X X X X X X X Extracts X X X X
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