Concessional penalty for search-disclosed unreconciled jewellery applies where substantive disclosure conditions are met despite omission from origina...
The HC held that initiating proceedings against the petitioner alleging violation of Section 6(3)(b) of FEMA Act in 2021 was without jurisdiction. Section 6(3)(b) stood omitted by the Finance Act, 2015, notified on 15.10.2019. The complaint against the petitioner was filed on 25.10.2019 and show cause notice issued on 25.02.2020, after the omission took effect. Section 6 of the General Clauses Act regarding repeals was not applicable as the present case involved omission. The HC allowed the writ petition.
The HC held that initiating proceedings against the petitioner alleging violation of Section 6(3)(b) of FEMA Act in 2021 was without jurisdiction. Section 6(3)(b) stood omitted by the Finance Act, 2015, notified on 15.10.2019. The complaint against the petitioner was filed on 25.10.2019 and show cause notice issued on 25.02.2020, after the omission took effect. Section 6 of the General Clauses Act regarding repeals was not applicable as the present case involved omission. The HC allowed the writ petition.
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