Article 8 treaty coverage excluded third-party airline support services, while documented demonetisation cash receipts remained accepted business inco...
Functional comparability under TNMM requires highway contract benchmarks to reflect operation, maintenance and transfer activities, requiring fresh be...
Objective characteristics govern magnesium bis-glycinate chelate classification as an amino-acid coordination compound, not a food preparation or anti...
Independent professional certification requires pleaded knowledge or complicity for criminal liability; untimely complaints remain barred by limitatio...
The appellant acquired and sold foreign currencies to Indian residents in violation of Section 3(a) of FEMA, 1999. The validity of the search and seizure conducted by the Directorate was upheld. The appellant's recorded statements, corroborated by seized documents from his residence, established his liability for unauthorized foreign exchange operations without RBI permission. Cross-examination denial did not prejudice the appellant due to independent corroborative evidence. While the appellant claimed efforts to keep his licensed money changer business clean, the penalty was reduced to Rs. 8,50,000/- considering the circumstances.
The appellant acquired and sold foreign currencies to Indian residents in violation of Section 3(a) of FEMA, 1999. The validity of the search and seizure conducted by the Directorate was upheld. The appellant's recorded statements, corroborated by seized documents from his residence, established his liability for unauthorized foreign exchange operations without RBI permission. Cross-examination denial did not prejudice the appellant due to independent corroborative evidence. While the appellant claimed efforts to keep his licensed money changer business clean, the penalty was reduced to Rs. 8,50,000/- considering the circumstances.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 4805
Join Channel
TaxTMI 
