https://www.taxtmi.com/caselaws?id=99968 Where an appellate statute confines the High Court to questions of law, the legality of the exercise of discretion in fixing penalty remains justiciable, so maintainability was upheld. The Court treated the quantum of penalty under the Foreign Exchange Regulation Act, 1973 as involving a legal question because the adjudicating authority must exercise statutory discretion within lawful bounds. On the facts, the absence of mala fides and the limited role of one appellant justified further moderation, and the penalties were reduced further. en-us Fri, 25 Sep 1981 00:00:00 +0530 Mon, 30 Jan 2012 17:43:20 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=99968 Where an appellate statute confines the High Court to questions of law, the legality of the exercise of discretion in fixing penalty remains justiciable, so maintainability was upheld. The Court treated the quantum of penalty under the Foreign Exchange Regulation Act, 1973 as involving a legal question because the adjudicating authority must exercise statutory discretion within lawful bounds. On the facts, the absence of mala fides and the limited role of one appellant justified further moderation, and the penalties were reduced further. Case-Laws Companies Law Fri, 25 Sep 1981 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=99968