Retrospective application of beneficial circulars upheld, binding officers and granting post adjudication relief where adjudication occurred after cir...
Admissibility of Investigation Statements requires witness examination before the adjudicating authority; otherwise statements cannot sustain a penalt...
Liability of a struck off company continues despite removal from the register; Sub section (6) of Section 248 read with Section 250 requires provision for discharge of liabilities, and the company remains liable for penalties assessed after striking off. Failure to comply with the pre deposit requirement under Section 19(1) of FEMA led to dismissal of the company's appeal. Penalties under Section 13(1) of FEMA are civil in nature and do not require mens rea for imposition. The appellate forum may exercise discretion to reduce penalties in the interests of justice; individual penalties were reduced to the specified lower amount and pre deposits adjusted accordingly.
Liability of a struck off company continues despite removal from the register; Sub section (6) of Section 248 read with Section 250 requires provision for discharge of liabilities, and the company remains liable for penalties assessed after striking off. Failure to comply with the pre deposit requirement under Section 19(1) of FEMA led to dismissal of the company's appeal. Penalties under Section 13(1) of FEMA are civil in nature and do not require mens rea for imposition. The appellate forum may exercise discretion to reduce penalties in the interests of justice; individual penalties were reduced to the specified lower amount and pre deposits adjusted accordingly.
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