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...
Concessional penalty for search-disclosed unreconciled jewellery applies where substantive disclosure conditions are met despite omission from origina...
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The AT held that contravention of Section 6(3)(i) of FEMA is a civil breach not requiring mens rea and attracts penalty under Section 13(1) with discretionary confiscation under Section 13(2). Noting the statutory omission took effect later and that the RBI notification preserved applicability, the Tribunal found the original penalty and confiscation disproportionate. The Tribunal reduced the pecuniary penalty from Rs.15,00,000 to Rs.7,50,000 (already pre-deposited) and set aside the order of confiscation of the appellant's agricultural land. The appeal was disposed of accordingly.
The AT held that contravention of Section 6(3)(i) of FEMA is a civil breach not requiring mens rea and attracts penalty under Section 13(1) with discretionary confiscation under Section 13(2). Noting the statutory omission took effect later and that the RBI notification preserved applicability, the Tribunal found the original penalty and confiscation disproportionate. The Tribunal reduced the pecuniary penalty from Rs.15,00,000 to Rs.7,50,000 (already pre-deposited) and set aside the order of confiscation of the appellant's agricultural land. The appeal was disposed of accordingly.
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