9911796707
TMI Blog2010 (7) TMI 585X X X X Extracts X X X X X X X X Extracts X X X X ..... after 8 to 9 months of the seizure - the Appellants were arrested and produced before the Magistrate after the seizure, and no question is raised regarding statement - IF the foreign currency does not exceed US $10,000.00 or its equivalent, the declaration is not necessary - In the present case, there is no evidence that the currencies in question had been brought into India by the Appellants or any other person, through Customs barriers. Held that: the Appellants, knew the smuggled nature of the Bangladeshi currencies - Therefore, find no merit in the Appeals. The Appeals are dismissed. - C/398-401/2009 - A-442-445/KOL/2010 - Dated:- 12-7-2010 - Shri S.S. Kang, J. REPRESENTED BY : Shri K.P. Dey, Advocate, for the Appellant. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... fiscation. The Appellants also submitted that the statements recorded were retracted subsequently. Therefore, the retracted statements cannot be made the basis for imposition of penalties. The Appellants relied upon the Foreign Exchange (Regulations) Act, 1973, which provided that if the foreign currency is less than US $10,000.00 or its equivalent, the same is not to be declared at the Customs barriers. Reliance is also placed on the Tribunal s decision in the case of Pukhraj Nihalchand Jain v. CC, Mumbai reported in 2003 (154) E.L.T. 715 (Tri.-Mumbai) and also on the decision of the Hon ble Supreme Court in the case of Radha Kishan Bhatia v. Union of India reported in 2004 (178) E.L.T. 8 (S.C.). 5. Contention of the Revenue is that the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ure, and no question is raised regarding statement made under Customs Act. In these circumstances, I find no merit in the contention of the Appellant that the retracted statements cannot be made the basis for imposition of penalties. The reliance of the Appellants on the Foreign Exchange (Regulations) Act, wherefrom the Appellants relied on the following para :- 4. any person may bring into India from any place outside India without limit foreign exchange (other than unissued notes) provided that if only such person makes on arrival in India a declaration to the customs authorities in Form CDF of the particulars of such foreign exchange brought in by him. It shall not be necessary to make such declaration where the aggregate value of the ..... X X X X Extracts X X X X X X X X Extracts X X X X
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