Regulatory consolidation for investment advisers: SEBI issues master circular consolidating guidance and prescribing compliance, reporting, fees and s...
Reopening of assessment cannot rest solely on an audit party's opinion; reassessment under Section 147/148 is impermissible and power of revision shou...
Page of 4811
Press 'Enter' after typing page number.
6121 to 6140 of 96208 Results
❮
❯
❯❯
0 / 200
Expand Note
Add to Folder
No Folders have been created
+
Are you sure you want to delete "My most important" ?
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.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4811 
Join Channel 
