1. Harbans Lal Sharaf alias Punjabi Seth of M/s. Harbans Lal Bansi Dhar, F-73, Moti Bazar, Chandni Chowk, Delhi, was tried (sic) (for importation of contraband gold?) into India and smuggle Indian currency and foreign exchange out of India in contravention of the restrictions imposed under Section 8 of the Foreign Exchange Regulations Act, 1947 and Section 19 of the Sea Customs Act, 1878 punishable under S. 120-B of the Indian Penal Code and for the substantive offence under Section 167 (81) of the Sea Customs Act, 1878. Shri S. C. Jain, Additional Chief Metropolitan Magistrate, New Delhi vide his judgment dated January 21, 1975 acquitted Harbans Lal Sharaf alias Punjabi Seth (hereinafter referred to as the respondent) of the offence punishable under Section 120-B of the Indian Penal Code but convicted him under Section 167 (81) of the Sea Customs Act, 1878 and sentenced him to fine of Rs. 3000/- with the direction to undergo rigorous imprisonment for six months in default of payment of fine. Feeling aggrieved by the acquittal and the sentence, Assistant Collector of Customs, New Delhi preferred Criminal Appeal No. 104 of 1975 and Criminal Revision No. 73 of 1975. Inasmuch