TaxTMI Login
Just a moment...
Press 'Enter' to add multiple search terms. Rules for Better Search
of 
of 
No Folders have been created
Are you sure you want to delete "My most important" ?
NOTE:
of of 
All Highlights
of of All Highlights
Note
Bookmark
Share
Don't have an account? Register Here
of The AT allowed the appeal in part. The Tribunal found that Respondent Nos. 2 and 3, acting through their director and authorised representative, caused foreign exchange loss of Rs. 23,63,89,843 and procured assets abroad worth Rs. 4,89,69,850 by contravening FEMA provisions; their conduct amounted to masterminding the contraventions. The penalty previously imposed on Respondent No. 1 is maintained subject to the outcome of any cross-appeal. The penalties on Respondent Nos. 2 and 3 are enhanced to Rs. 1,00,00,000 each on parity grounds. The decision affirms liability findings against all respondents and increases monetary sanctions against Respondent Nos. 2 and 3.
TaxTMI 
TaxTMI 
