TaxTMI Login
AI Drafter - (New and Powerful) ✕
Generate professional replies, appeals, opinions to Show Cause Notices, assessment orders, audit objections, and other legal communications using TaxTMI's AI Drafter.
Just a moment...
AI Drafter - (New and Powerful) ✕ Generate professional replies, appeals, opinions to Show Cause Notices, assessment orders, audit objections, and other legal communications using TaxTMI's AI Drafter.
Press 'Enter' to add multiple search terms. Rules for Better Search
Use comma for multiple locations.
---------------- For section wise search only -----------------
Accuracy Level ~ 90%
of 
Press 'Enter' after typing page number.
of Press 'Enter' after typing page number.
No Folders have been created
Are you sure you want to delete "My most important" ?
NOTE:
of Press 'Enter' after typing page number.
of Press 'Enter' after typing page number.
All Case Laws
of Press 'Enter' after typing page number.
of Press 'Enter' after typing page number.
All Case Laws
Note
Bookmark
Share
Don't have an account? Register Here
of Press 'Enter' after typing page number.
Issues: Whether a penalty imposed under the Foreign Exchange Regulation Act, 1973 before its repeal could still be recovered as arrears of land revenue after the commencement of the Foreign Exchange Management Act, 1999, and whether the saving provisions of the later Act displaced the recovery mechanism under the repealed Act.
Analysis: The penalty order under the repealed Act had already been passed and had attained finality before the Foreign Exchange Management Act, 1999 came into force. The saving clause in section 49 of the later Act preserved proceedings under the repealed Act, and the bar in section 49(3) did not assist the appellant because the adjudication had been completed long before the commencement of the later Act. The Court also held that the beneficial provisions relating to penalty and civil imprisonment under sections 13 and 14 of the later Act had no application to a concluded adjudication under the repealed Act. The general savings principle under section 6 of the General Clauses Act, 1897 further supported the continuance of the liability incurred under the repealed statute.
Conclusion: Recovery of the penalty under section 70(1)(iii) of the repealed Act was held to be valid, and the challenge to the recovery proceedings failed.
TaxTMI 
