Tax appeal allowed: AO exceeded s.144C DRP mandate by introducing new findings and recharacterising non-resident receipts as permanent establishment i...
AT dismissed the appeal and upheld the Adjudicating Authority's penalty. The Tribunal found that the AA evaluated evidence and exercised lawful discretion under Section 13(1) of FEMA, which prescribes a maximum penalty up to thrice the sum involved, rather than an obligatory maximum. The appellant failed to demonstrate that the imposed penalty was arbitrary, disproportionate, or that the AA failed to consider material facts; absent such showing, interference was unwarranted. The Tribunal accordingly affirmed the adjudication order in all material respects and dismissed the appeal.
AT dismissed the appeal and upheld the Adjudicating Authority's penalty. The Tribunal found that the AA evaluated evidence and exercised lawful discretion under Section 13(1) of FEMA, which prescribes a maximum penalty up to thrice the sum involved, rather than an obligatory maximum. The appellant failed to demonstrate that the imposed penalty was arbitrary, disproportionate, or that the AA failed to consider material facts; absent such showing, interference was unwarranted. The Tribunal accordingly affirmed the adjudication order in all material respects and dismissed the appeal.
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