Political contribution deductions require genuine transactions; banking records and party registration alone cannot defeat evidence of accommodation e...
Post-death GST liability permits fresh proceedings against legal representatives, while discontinued-business recovery remains limited to the inherite...
Non-confirmation of FEMA seizure prevents adjudicators from overriding pending appellate findings on recorded reasons and suspected foreign asset hold...
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.
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.
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