AGRAWAL TRADING CORPORATION & ORS. vs COLLECTOR OF CUSTOMS AND ORS.

The Supreme Court held that currency notes are included within the definition of 'goods' under Section 167 of the Sea Customs Act, as incorporated by Section 23A of the Foreign Exchange Regulations Act, 1947. The Court dismissed the appeal, affirming that a partnership firm can be held liable under the provisions of the Sea Customs Act and the Foreign Exchange Regulations Act, and that penalties can be imposed on the firm even if individual partners did not consciously violate the law. The Court clarified that the legislative intent allows for the incorporation of provisions from one Act into another for enforcement purposes.