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TMI Blog2011 (10) TMI 446X X X X Extracts X X X X X X X X Extracts X X X X ..... e finality, both Counsel appearing on behalf of the Commissioner of Customs and Counsel appearing on behalf of the Assessee joined in stating that it would be in the interests of justice that this Court should impose a suitable redemption fine and should ensure finality to the proceedings. Accordingly, we have applied the same yardstick as was applied by the revisional authority on the quantum of redemption fine imposed on the foreign currency amounting to Rs. 27.29 lakhs. On this amount a redemption fine of Rs. 5.50 lakhs was imposed. We accordingly direct that on the balance of the foreign currency equivalent to Rs. 20 lakhs a redemption fine of 25%, quantified at Rs. 5 lakhs shall be imposed. - 1573 of 2011 - - - Dated:- 11-10-2011 - ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... spite this, allowed the First Respondent to exchange Indian currency equivalent to Rs. 20 lakhs from the currency which was confiscated and reduced the fine from Rs. 5 lakhs to Rs. 2.50 lakhs. This order was challenged in revision both by the Revenue and by the assessee before the revisional authority. According to the Revenue, the order of the Appellate Authority was contradictory because while on the other hand, the authority had upheld the confiscation of the currency it had permitted the First Respondent to exchange the amount equivalent to Rs. 20 lakhs therefrom. The revisional authority by its order dated 13 October 1998, ordered the release of Indian currencies equivalent to U.S.$ 20,000/- covered under CDF as travelers cheques and a ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... d have to follow and the order would have to be enforced. Contrariwise, if the order of the revisional authority is modified or set aside, the necessary consequence would follow in respect of the petition filed by the assessee. 8. Counsel appearing on behalf of the Union of India has submitted that when the proceedings were remitted back to the revisional authority by the Division Bench of this Court on 4 August 2010, that was on the specific submission of the assessee that the entire order of the revisional authority needed to be set aside, in view of the judgments of the Appellate Authority and the revisional authority wherein the entire confiscated currency was ordered to be released on the payment of fine. Consequently, it was submitt ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... iscated the remaining balance of Rs. 27.29 lakhs. Hence, that part of the order by which an amount of Rs. 20 lakhs was ordered to be returned to the assessee was not a subject matter of the challenge by the assessee and could not have been, therefore, subjected to a redemption fine. On this basis, it was urged that the order passed by the revisional authority is correct and does not warrant interference. 10. The adjudicating authority had ordered the confiscation of the entire foreign currency which was seized and which was vakied at Rs. 47.29 lakhs. The adjudicating authority had also imposed a personal penalty. In appeal, the Commissioner (Appeals) upheld the confiscation of the currency, but allowed the assessee a refund of Rs. 20 lakh ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... l authority was set aside on the specific request of the first Respondent-assessee in the following terms : In the result, impugned order is set aside. The Revision Application is remitted back and restored to the file of the revisional authority for consideration afresh so as to consider the issue raised by the Petitioner as pointed out hereinabove. The other findings on merits are confirmed. The revisional authority shall consider the issue relating to the release of entire foreign currencies on payment of redemption fine on its own merits. 11. The matter was thereupon remanded back to the revisional authority. The scope of the proceedings before the revisional authority was to consider the issue relating to the release of the enti ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ccordingly direct that on the balance of the foreign currency equivalent to Rs. 20 lakhs a redemption fine of 25%, quantified at Rs. 5 lakhs shall be imposed. 13. The order of the revisional authority would, therefore, stand modified to the extent that in addition to the redemption fine and the personal penalty which have been imposed on the Petitioner in the amounts respectively of Rs. 5.50 lakhs and Rs. 2.5 lakhs, the Petitioner would be liable to pay an additional redemption fine quantified at Rs. 5 lakhs. The order of the revisional authority shall accordingly stand modified. 14. In view of the order which has been passed on the petition filed by the Union of India we direct, on the Petition filed by the assessee, that upon the adju ..... X X X X Extracts X X X X X X X X Extracts X X X X
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