Faceless assessment and registration procedures are updated through electronic communication, revised recovery rules, extended deadlines, and replacem...
Risk-based selective vessel boarding requires accurate declarations and preserves master and agent liability where physical inspections are not select...
Permanent-establishment reassessment cannot revisit scrutinised disclosures; extended reopening fails without undisclosed material facts and within st...
Under FEMA, confiscation of currency, securities, money or property involved in a contravention is discretionary and may be ordered in addition to a penalty; it is neither mandatory nor tied to a compulsory maximum penalty. The discretion must be exercised judiciously on the facts and evidence. The notes state that the appellant did not show that the Adjudicating Authority failed to apply its mind or that refusing confiscation caused a miscarriage of justice. Accordingly, the Tribunal upheld the refusal to confiscate shares transferred to foreign investors without Reserve Bank permission and found no basis to interfere with the penalty order.
Under FEMA, confiscation of currency, securities, money or property involved in a contravention is discretionary and may be ordered in addition to a penalty; it is neither mandatory nor tied to a compulsory maximum penalty. The discretion must be exercised judiciously on the facts and evidence. The notes state that the appellant did not show that the Adjudicating Authority failed to apply its mind or that refusing confiscation caused a miscarriage of justice. Accordingly, the Tribunal upheld the refusal to confiscate shares transferred to foreign investors without Reserve Bank permission and found no basis to interfere with the penalty order.
Note: It is a system-generated summary and is for quick reference only.
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