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TMI Blog2024 (1) TMI 740X X X X Extracts X X X X X X X X Extracts X X X X ..... r of the goods to pay fine in lieu of the confiscation and if such fine is not paid within a period of 120 days, such option will become void. But the goods seized in the present case are nothing else but foreign currency. The seized currency is already with the respondent and in paragraph (iv) of Order-in-Original, there is a clear direction for realization of the redemption fine and the penalty collectively amounting to Rs. 5,20,000/- from the total amount of Rs. 13,07,950/- and for the release of the remaining amount of Rs. 7,87,950/- to the petitioner. Since the currency was already lying with the department and only balance amount was to be released after adjusting the redemption fine and penalty, no further option was to be exercised ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the presence of a Gazetted Officer or any Gazetted Lady Customs Officer. As per her consent, a Lady Customs Officer conducted the personal baggage search of the petitioner which led to recovery of USD 18500/-. Petitioner failed to produce any documentary evidence for the legal possession and export of the recovered foreign currency, said foreign currency was then seized under Section 110 of the Customs Act, 1962. Subsequently, the recovered foreign currency was deposited with Central Bank of India, IGI Airport Branch vide office letter dated 22.08.2019. 3. Show Cause Notice dated 15.01.2020 was served upon the petitioner. In her reply, petitioner stated that she was not having any knowledge of the legal provisions and that the non-declarat ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the extension of limitation period in all the matters till 31.03.2022 and that since thereafter petitioner called the respondent s office on phone several times and also sent a letter dated 02.06.2023 for allowing the redemption of her seized foreign currency, but her request has not been accepted. 7. Per contra, the learned counsel for the respondents has argued that the adjudicating authority had given an option of redemption of goods to the petitioner upon the payment of redemption fine and such offer of redemption was valid only for a period of three months from the date of issuance of the order. It is submitted that the petitioner did not avail the option within the prescribed period of three months or even 120 days as directed under ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... t exceed the market price of the goods confiscated, less in the case of imported goods the duty chargeable thereon. [(2) Where any fine in lieu of confiscation of goods is imposed under sub-section (1), the owner of such goods or the person referred to in sub-section (1), shall, in addition, be liable to any duty and charges payable in respect of such goods.] [(3) Where the fine imposed under sub-section (1) is not paid within a period of one hundred and twenty days from the date of option given thereunder, such option shall become void, unless an appeal against such order is pending. Explanation . For removal of doubts, it is hereby declared that in cases where an order under sub-section (1) has been passed before the date on which the Fin ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... n valid for a period of three months from the date of issue of this order. III. I also impose a penalty of Rs. 2,60,000/- on the Noticee-2 under Section 114 of the Customs Act, 1962. IV. The Redemption Fine and Penalty collectively amounting to Rs. 5,20,000/- shall be realized from the total amount of Rs. 13,07,950/- and the remaining amount of Rs. 7,87,950/- shall be released to the Noticee-2. 11. The seized currency is already with the respondent and in paragraph (iv) of Order-in-Original, there is a clear direction for realization of the redemption fine and the penalty collectively amounting to Rs. 5,20,000/- from the total amount of Rs. 13,07,950/- and for the release of the remaining amount of Rs. 7,87,950/- to the petitioner. Since th ..... X X X X Extracts X X X X X X X X Extracts X X X X
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