9911796707
TMI Blog2005 (2) TMI 915X X X X Extracts X X X X X X X X Extracts X X X X ..... appeal the appellant has challenged adjudication order No. ADJ/726/AD(PKB) /B/2003 dated 30-6-2003 passed by Asstt. Director, Enforcement Directorate imposing a penalty of Rs. 22,82,000 against appellant for contravention of the provisions of section 8(3) and section 8(4) of Foreign Exchange Regulation Act, 1973 on the reasons that the appellant has failed to produce proof of import of goods agai ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... appeal is taken up for hearing on merits. 3. The appellant has filed RBI s letter dated 19-4-2004 where waiver is granted against submission of exchange control copy and bill of entry with a qualification that action taken by the Enforcement Directorate is not affected. The details mentioned in RBI s letter dated 19-4-2004 with regard to remittance of foreign exchange fully tallies with the detail ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... t of waiver is subjected to the action taken by Enforcement Directorate, hence, the impugned order is liable to be sustained and confirmed. He further urged that there is a delay in submission of bill of entry which by itself is sufficient to contravene the provisions of section 8(3) and 8(4) of FERA, 1973. The arguments advanced by Shri T.K. Gadoo, DLA are not correct, and acceptable because ther ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ully empowered to over reach the same. Hence the arguments advanced by Shri T.K. Gadoo, DLA contain no merit and are rejected. 5. For the reasons stated herein above the impugned order is liable to be set aside and quashed. An order is passed accordingly. This appeal is allowed and the amount of Rs. 4,82,000 deposited by the appellant is required to be returned to him. The respondent may return th ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
