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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AT held that contravention of Section 6(3)(b) of FEMA read with Para 8 of Schedule I to the 2000 Regulations stood established, as the managing director was responsible for the company's affairs during the relevant period and was thus liable under Section 42(1) FEMA. AT rejected the contention that lack of mens rea or absence of loss to Government or stakeholders negated liability, noting that Section 13(1) does not require mens rea. However, considering subsequent resignation and proportionality, AT reduced the penalty, adjusting the pre-deposit, and partly allowed the appeal.
AT held that contravention of Section 6(3)(b) of FEMA read with Para 8 of Schedule I to the 2000 Regulations stood established, as the managing director was responsible for the company's affairs during the relevant period and was thus liable under Section 42(1) FEMA. AT rejected the contention that lack of mens rea or absence of loss to Government or stakeholders negated liability, noting that Section 13(1) does not require mens rea. However, considering subsequent resignation and proportionality, AT reduced the penalty, adjusting the pre-deposit, and partly allowed the appeal.
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