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TMI Blog2014 (4) TMI 584X X X X Extracts X X X X X X X X Extracts X X X X ..... e of Bhavya Apparels Pvt. Ltd. (2007 (9) TMI 274 - SUPREME COURT OF INDIA), we are of the considered view that the appellants have made out a prima facie case for grant of stay. Accordingly, we grant unconditional waiver from pre-deposit of the penalties adjudged against the appellants and stay recovery thereof during the pendency of the appeals - Decided in favour of assessee. - Appeals No.C/727 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... fine in lieu of confiscation. Further, he also imposed a penalty of Rs. 50 lakhs on Shri Suresh Gangaram Hole, who attempted to smuggle out the seized foreign currency. Besides, a penalty of Rs. 1.25 crore has been imposed on Shri Rajendra G Bhutada and Rs. 25 lakhs on Smt. Bharati Rajendra Bhutada for their involvement in the smuggling of foreign currencies. Aggrieved of the same the appellants a ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ct would be attracted where the goods in question are not in the custody of Revenue. Since in the present case the foreign currency seized is still with the department the question of putting the appellant to terms under Section 129E would not arise at all. 3.1 The learned counsel for Shri Suresh Gangaram Hole also submits that in view of the fact that seized currency is still with the departme ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... r grant of stay. Accordingly, we grant unconditional waiver from pre-deposit of the penalties adjudged against the appellants and stay recovery thereof during the pendency of the appeals. 6. The Revenue has also moved a miscellaneous application for early hearing of the appeal. Considering the fact that the value of the currency seized is Rs. 1.25 crore approximately, we allow the application f ..... X X X X Extracts X X X X X X X X Extracts X X X X
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