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...
Page of 4826
Press 'Enter' after typing page number.
1 to 20 of 96510 Results
❮
❯
❯❯
0 / 200
Expand Note
Add to Folder
No Folders have been created
+
Are you sure you want to delete "My most important" ?
The text addresses personal liability for corporate contraventions under Section 42(1) of FEMA, holding that a company officer who actively participated in transactions and admitted involvement by statements under Section 37 may be held personally liable. It states that mens rea is not required for imposition of civil penalties under FEMA, treating such breaches as civil obligations attracting penalty irrespective of guilty intention. It also emphasises proportionality in penalty quantum, records reduction of the imposed penalty on that basis, and directs adjustment of any pre-deposit against the reduced amount.
The text addresses personal liability for corporate contraventions under Section 42(1) of FEMA, holding that a company officer who actively participated in transactions and admitted involvement by statements under Section 37 may be held personally liable. It states that mens rea is not required for imposition of civil penalties under FEMA, treating such breaches as civil obligations attracting penalty irrespective of guilty intention. It also emphasises proportionality in penalty quantum, records reduction of the imposed penalty on that basis, and directs adjustment of any pre-deposit against the reduced amount.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
Join Channel 
