CESTAT Chennai Denies Revenue's Stay Request on Foreign Currency Confiscation

The Appellate Tribunal CESTAT, Chennai rejected the Revenue's application for a stay of the impugned order. The Tribunal dismissed Revenue's arguments regarding recurring effect and setting a bad precedent in a foreign currency confiscation case. Subsequently, the lower appellate authority set aside the impugned order.

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The Revenue's application for stay of operation of the impugned order was rejected by the Appellate Tribunal CESTAT, Chennai. The Tribunal found no merit in Revenue's arguments about recurring effect and setting a bad precedent in foreign currency confiscation case. The impugned order was set aside by the lower appellate authority.

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