Revenue neutrality in domestic related-party loans can require deletion of interest transfer pricing adjustments after domestic-transaction verificati...
AT upheld the penalty imposed under FEMA Section 13(1) for export proceeds realization violation. The Adjudicating Authority's discretionary penalty assessment at one percent of the contravened amount was deemed judicious and proportionate. The tribunal found no compelling grounds to enhance the penalty, noting the authority's objective consideration of mitigating circumstances. Consequently, the appeal challenging the penalty quantum was dismissed, affirming the original adjudication order's reasonableness and adherence to statutory guidelines.
AT upheld the penalty imposed under FEMA Section 13(1) for export proceeds realization violation. The Adjudicating Authority's discretionary penalty assessment at one percent of the contravened amount was deemed judicious and proportionate. The tribunal found no compelling grounds to enhance the penalty, noting the authority's objective consideration of mitigating circumstances. Consequently, the appeal challenging the penalty quantum was dismissed, affirming the original adjudication order's reasonableness and adherence to statutory guidelines.
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