PMLA anticipatory bail requires satisfaction of twin conditions, while predicate-offence protection does not extend to independent money-laundering pr...
School-affiliation charges remain taxable where not directly connected with examinations, while extended limitation requires proof of deliberate tax e...
Appellant company contravened Section 8(1) of Foreign Exchange Regulation Act, 1973 by acquiring and transferring foreign exchange of US$ 28,26,433.26 without requisite permission, and borrowing foreign exchange of US$ 3,33,025 and lb7,068.38. AT upheld findings of violation, reduced penalty on company to 25% already deposited considering case's antiquity and facts. However, AT set aside penalty on Mr. Ishaat Hussain finding no evidence of his involvement in company's affairs regarding aircraft purchase.
Appellant company contravened Section 8(1) of Foreign Exchange Regulation Act, 1973 by acquiring and transferring foreign exchange of US$ 28,26,433.26 without requisite permission, and borrowing foreign exchange of US$ 3,33,025 and lb7,068.38. AT upheld findings of violation, reduced penalty on company to 25% already deposited considering case's antiquity and facts. However, AT set aside penalty on Mr. Ishaat Hussain finding no evidence of his involvement in company's affairs regarding aircraft purchase.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4828 
Join Channel 
