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TMI Blog2013 (1) TMI 308X X X X Extracts X X X X X X X X Extracts X X X X ..... e of operations on more than one occasion. Shri Ibrahim has stated that he has made a profit of Rs. 2,00,000/- on each occasion. The claim that the currency was received through legal channel for business purposes is not convincing. If that be so, the money could have been returned legally. Prima facie, all the three are involved in the attempted smuggling. Hence deposit certain sum and balance wa ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the process he used to get about Rs.2,00,000/- profit every time. He admitted having done this on a few earlier occasions. Shri Shajahan and Shri Sulfikar also corroborated the version given by Shri Ibrahim. Later on, Shri Ibrahim has claimed that the money was given by his friends as a loans (identity of his friends were not revealed) and the money was received through official channel for the pu ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... submissions from both sides and perused the records. It is a case where Shri Ibrahim was using specially made suitcases for concealing currency for the purpose of illegal export. Initially statements of three appellants indicate that they have done this type of operations on more than one occasion. Shri Ibrahim has stated that he has made a profit of Rs. 2,00,000/- on each occasion. The claim that ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e Assistant Registrar on 18th September 2012. The Assistant Registrar to report to the Bench on 25 th September 2012. Subject to deposit of the above amounts, there shall be waiver of pre-deposit of balance of penalties imposed on these appellants. 8. It is made clear that in the event of non-deposit of the amounts as directed above, the appeals of the defaulting appellants shall be dismissed wi ..... X X X X Extracts X X X X X X X X Extracts X X X X
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