Power to recover arrears of penalty established under amendments enabling administrative recovery of outstanding foreign exchange penalties. Clauses in the Finance Bill, 2016 propose inserting a new provision into the Foreign Exchange Management Act, 1999 that creates a power to recover arrears of penalty, establishing an administrative mechanism to collect outstanding penalties under the Act and providing for commencement of these amendments by notification of the Central Government.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Power to recover arrears of penalty established under amendments enabling administrative recovery of outstanding foreign exchange penalties.
Clauses in the Finance Bill, 2016 propose inserting a new provision into the Foreign Exchange Management Act, 1999 that creates a power to recover arrears of penalty, establishing an administrative mechanism to collect outstanding penalties under the Act and providing for commencement of these amendments by notification of the Central Government.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
AI OCR ✕
of 
TaxTMI 
TaxTMI 
