Interactive flat panels meeting automatic data processing conditions are distinguished from monitors, while later classification clarifications apply ...
Statutory transfer formalities invalidated alleged share and property transfers, while retrospective record manipulation constituted oppression and mi...
Delayed reporting of Form FC-GPR under FEMA was treated as non-establishment of contravention where the record showed timely submission to the authorised dealer with acknowledgment, and the later delay in transmission to RBI was attributable to the bank's lapse. As no legal requirement for direct filing with RBI was identified, the burden to prove breach was not discharged against the appellant. The alleged violation of Section 6(3)(b) read with the applicable FEMA regulations was therefore not proved, the penalty was set aside, and refund of the pre-deposit was directed.
Delayed reporting of Form FC-GPR under FEMA was treated as non-establishment of contravention where the record showed timely submission to the authorised dealer with acknowledgment, and the later delay in transmission to RBI was attributable to the bank's lapse. As no legal requirement for direct filing with RBI was identified, the burden to prove breach was not discharged against the appellant. The alleged violation of Section 6(3)(b) read with the applicable FEMA regulations was therefore not proved, the penalty was set aside, and refund of the pre-deposit was directed.
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