Incomplete BIS testing cannot justify reclassification or confiscatory action; declared customs classification restored and enhanced redemption fine s...
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Tribunal found contraventions of FEMA where spiral-pad entries, WhatsApp chats and voluntary statements jointly corroborated that INR cash payments in India were made for or on behalf of persons resident outside India, establishing dealing in foreign exchange. The phrase "in any manner" was read to include payments to local agents acting for foreign principals, and Regulation 6(2)(ii) was held inapplicable because payments were made outside authorised banking channels. The director was held liable as person in charge, and the Tribunal reduced penalties for lack of reasoned quantification, applying proportionality in exercise of penalty discretion.
Tribunal found contraventions of FEMA where spiral-pad entries, WhatsApp chats and voluntary statements jointly corroborated that INR cash payments in India were made for or on behalf of persons resident outside India, establishing dealing in foreign exchange. The phrase "in any manner" was read to include payments to local agents acting for foreign principals, and Regulation 6(2)(ii) was held inapplicable because payments were made outside authorised banking channels. The director was held liable as person in charge, and the Tribunal reduced penalties for lack of reasoned quantification, applying proportionality in exercise of penalty discretion.
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