Bona fide disclosure requirements govern under-reporting penalties, and post-penalty immunity applications cannot secure available statutory protectio...
Certificate-of-origin verification procedure governs preferential customs benefits; denial without retroactive verification was set aside with consequ...
Disciplinary Committee jurisdiction and mandatory investigation requirements invalidated cancellation of an insolvency professional's registration and...
Retention of seized property survives where recorded reasons support proceeds of crime, while stayed investigation periods are excluded from limitatio...
Under FEMA, section 13(1) prescribes a maximum penalty but neither fixes a penalty nor sets a minimum. Penalty quantum therefore lies within the adjudicating authority's judicial discretion, to be exercised on the facts and evidence. The Tribunal's discussion states that a reasoned penalty order based on the record should not be enhanced unless the Directorate demonstrates that the penalty was inadequate or that discretion was improperly exercised. In the stated context of a company director's penalty for foreign-exchange remittance contraventions, the Tribunal found no basis to interfere with the original quantum and dismissed the enhancement appeal.
Under FEMA, section 13(1) prescribes a maximum penalty but neither fixes a penalty nor sets a minimum. Penalty quantum therefore lies within the adjudicating authority's judicial discretion, to be exercised on the facts and evidence. The Tribunal's discussion states that a reasoned penalty order based on the record should not be enhanced unless the Directorate demonstrates that the penalty was inadequate or that discretion was improperly exercised. In the stated context of a company director's penalty for foreign-exchange remittance contraventions, the Tribunal found no basis to interfere with the original quantum and dismissed the enhancement appeal.
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