In case a person attempted to export Indian currency outside ...

Exporting Indian Currency Without RBI Approval Leads to Confiscation; Redemption Possible with Fine and Penalty.

August 8, 2014

Case Laws Customs AT

In case a person attempted to export Indian currency outside India without permission of RBI more than the prescribed limit, in that case the Indian currency can be absolutely confiscated - same can be allowed to redeem on payment of redemption fine and imposition of penalty - AT

View Source

← Previous Next →

In case a person attempted to export Indian currency outside ...

Exporting Indian Currency Without RBI Approval Leads to Confiscation; Redemption Possible with Fine and Penalty.

August 8, 2014

Case Laws Customs AT

You may also like:

Confiscation of the currency seized - validity of order for release on payment of redemption fine - The High court found that the seizure and confiscation of foreign...

Government allowed export benefit to Bhutan in Indian Currency under Central Excise Law.

Seeking for redemption of Indian and Foreign currencies confiscated - Absolute confiscation - When it is not in dispute that the petitioner has violated Regulation 5 of...

Refund claim - export of service - zero rated supply - receipt in convertible foreign exchange - Amount received through Paypal in Indian currency - The High Court...

Smuggling - Absolute confiscation of foreign currency seized from the Appellant u/s 113(d),(e) & (h) of the Customs Act - The Tribunal found that there was only a venial...

Smuggling - illegal importation of the seized gold - Confiscation of the gold and Indian currency - The Tribunal found no evidence linking the seized Indian currency to...

This case deals with the valuation of 'rough diamonds' imported into India and the subsequent discrepancy between the declared value and the reassessed value by customs...

Liability of redemption fine when goods are confiscated - redemption fine, is an option in lieu of confiscation and hence, both cannot run simultaneously, which means...

Penalty - Confiscation of foriegn currency - carrying currency in excess of prescribed limit - penalty reduced - AT

Appellants challenged confiscation of containers, imposition of redemption fine, and penalty due to inordinate delay in adjudication. Tribunal found procedural lapse by...

Absolute confiscation of the cash - Smuggling - Red Sander Wood Logs - prohibited goods or not - The impugned order qua absolute confiscation of cash seized is contrary...

Issue of Indian Currency Note - Foreign going vessels - CBEC withdraws its earlier circular since RBI has not prescribed any restriction on denomination of Indian...

The CESTAT allowed the appeal against the imposition of redemption fine u/s 125 of the Customs Act, 1962. The Tribunal held that when the exported goods are unavailable,...

The case involved confiscation of imported goods u/s 111(d) of CA 1962, re-exportation, redemption fine, and penalty u/s 112(a). Goods were imported in contravention of...

Confiscation of goods already exported - redemption fine in lieu of confiscation imposed - export of iron ore fines - Fe content of the iron ore fines - In a case where...

Quick Updates: