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Post-death GST liability permits fresh proceedings against legal representatives, while discontinued-business recovery remains limited to the inherite...
Non-confirmation of FEMA seizure prevents adjudicators from overriding pending appellate findings on recorded reasons and suspected foreign asset hold...
FERA penalty quantification must be reasoned, reasonable and proportionate to the contravention; the statutory maximum under Section 50 does not by itself justify the amount imposed. Where certain export-realisation contraventions were excluded and an RBI write-off was noted, retaining the original penalty without explaining its basis was disproportionate. A finding that the penalty was not harsh or excessive, without articulated quantification reasons, was insufficient. The penalty was therefore set aside and redetermined at a lower amount, with the appeal partly allowed.
FERA penalty quantification must be reasoned, reasonable and proportionate to the contravention; the statutory maximum under Section 50 does not by itself justify the amount imposed. Where certain export-realisation contraventions were excluded and an RBI write-off was noted, retaining the original penalty without explaining its basis was disproportionate. A finding that the penalty was not harsh or excessive, without articulated quantification reasons, was insufficient. The penalty was therefore set aside and redetermined at a lower amount, with the appeal partly allowed.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
