Contingency expenses, exempt-income disallowance, and royalty benchmarking: unsupported adjustments were deleted under consistent accounting and trans...
Disciplinary proportionality requires penalties for Authorised Representative misconduct to match proven harm, leading to reconsideration of registrat...
Reasoned adjudicatory orders imposing or affirming FEMA penalties must disclose the evidence and reasons supporting liability. Where the Tribunal accepted the company's explanation for seized Indian and foreign currency, it had to address any further evidence justifying penalties against the appellant; reasons could not be inferred merely from factual narration. The High Court set aside the Tribunal's order because it did not reveal the basis for affirming the penalties, and remanded the appeal for fresh, reasoned adjudication uninfluenced by earlier observations.
Reasoned adjudicatory orders imposing or affirming FEMA penalties must disclose the evidence and reasons supporting liability. Where the Tribunal accepted the company's explanation for seized Indian and foreign currency, it had to address any further evidence justifying penalties against the appellant; reasons could not be inferred merely from factual narration. The High Court set aside the Tribunal's order because it did not reveal the basis for affirming the penalties, and remanded the appeal for fresh, reasoned adjudication uninfluenced by earlier observations.
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TaxTMI 
TaxTMI 
of 4918 
