https://www.taxtmi.com/caselaws?id=89224 Non-compliance with a summons under Section 40(3) of the Foreign Exchange Regulation Act, 1973 was held not to be punishable under Section 56(1)(ii) on a strict construction of the penal scheme. Section 40(3) required attendance, truthful statement and production of documents, but it did not itself create a penal consequence for default, and Section 56 was read as applying to offences linked to amount or value. Accordingly, a complaint alleging contravention of Section 40(3) was not maintainable under Section 56(1)(ii), and the prosecution was quashed. en-us Fri, 01 Aug 1997 00:00:00 +0530 Fri, 24 Feb 2012 18:25:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=89224 Non-compliance with a summons under Section 40(3) of the Foreign Exchange Regulation Act, 1973 was held not to be punishable under Section 56(1)(ii) on a strict construction of the penal scheme. Section 40(3) required attendance, truthful statement and production of documents, but it did not itself create a penal consequence for default, and Section 56 was read as applying to offences linked to amount or value. Accordingly, a complaint alleging contravention of Section 40(3) was not maintainable under Section 56(1)(ii), and the prosecution was quashed. Case-Laws FEMA Fri, 01 Aug 1997 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=89224