Political contribution deductions require genuine transactions; banking records and party registration alone cannot defeat evidence of accommodation e...
Post-death GST liability permits fresh proceedings against legal representatives, while discontinued-business recovery remains limited to the inherite...
Non-confirmation of FEMA seizure prevents adjudicators from overriding pending appellate findings on recorded reasons and suspected foreign asset hold...
The case involves an offense u/s 5 of FEMA for carrying US$ 50,000 in Travelers Cheques without necessary permissions for a business trip. The appellant was not directly involved in applying for the foreign exchange, which was done by company directors. Despite lack of awareness, appellant was held liable for not verifying RBI permission. Finance Manager was found vicariously liable for being aware of the violation. Penalties were reduced for the appellants due to their minor roles. The appeal partially allowed, reducing penalties to Rs. 50,000 each, already pre-deposited.
The case involves an offense u/s 5 of FEMA for carrying US$ 50,000 in Travelers Cheques without necessary permissions for a business trip. The appellant was not directly involved in applying for the foreign exchange, which was done by company directors. Despite lack of awareness, appellant was held liable for not verifying RBI permission. Finance Manager was found vicariously liable for being aware of the violation. Penalties were reduced for the appellants due to their minor roles. The appeal partially allowed, reducing penalties to Rs. 50,000 each, already pre-deposited.
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TaxTMI 
TaxTMI 
