PRAKASH AGARWAL Vs. COMMISSIONER OF CUSTOMS (AIRPORT), KOLKATA

JUDGEMENT

(1.) HEARD both sides. This is a case where the appellant was carrying Indian Currency of Rs. 1,50,000/ - (Rupees one lakh fifty thousand) while going by AIR to Bhutan. The currency was not allowed to be taken out of India, after the Customs Officials intercepted the passengers. The learned Advocate appearing for the appellant states that the appellant was not aware of the regulations under FEMA, but he had made a truthful declaration about the possession of the currency at the time of interception. The appellant submits that he was going to Bhutan for settling one contract and therefore, he required the said money to pay the workers for fabrication job at Guwahati. Afterwards, this was corroborated by the submission of M/s. National Engineering Corporation for whom the appellant worked.

(2.) CONSIDERING the fact that the appellant has satisfactorily explained the possession of the non -permitted denomination of Indian Currency and also the fact that the same was not allowed to be taken out of India, the case deserves lenient consideration. Accordingly, I allow the appellant to redeem the Indian Currency absolutely confiscated, on payment of redemption fine of Rs. 15,000/ - (Rupees fifteen thousand) only.

(3.) AS regards penalty, I find that only a token penalty of Rs. 5,000/ - (Rupees five thousand) has been imposed, which does not require any interference, since violation of FEMA provisions has been established.