Search and seizure: abatement of earlier search bars use of prior seized material in later search-based assessments; relief limited to new documents f...
Page of 4814
Press 'Enter' after typing page number.
6601 to 6620 of 96262 Results
❮
❯
❯❯
0 / 200
Expand Note
Add to Folder
No Folders have been created
+
Are you sure you want to delete "My most important" ?
Issue addressed: whether funds held, acquired or invested in foreign currency while being non resident attract statutory protection under FEMA when transferred after becoming resident. The text states that protection under the statutory provision applies only to legitimately sourced and explained foreign funds; unexplained or illegitimate funds fall outside protection. The appellant's uncorroborated explanation as to source and the cash, piecemeal receipt description were held determinative of contravention of the foreign exchange provisions. The author notes appellate discretion to reduce penalty and records a reduction of the monetary penalty as the operative remedial consequence.
Issue addressed: whether funds held, acquired or invested in foreign currency while being non resident attract statutory protection under FEMA when transferred after becoming resident. The text states that protection under the statutory provision applies only to legitimately sourced and explained foreign funds; unexplained or illegitimate funds fall outside protection. The appellant's uncorroborated explanation as to source and the cash, piecemeal receipt description were held determinative of contravention of the foreign exchange provisions. The author notes appellate discretion to reduce penalty and records a reduction of the monetary penalty as the operative remedial consequence.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4814 
Join Channel 
