https://www.taxtmi.com/caselaws?id=219542 A pre-deposit condition requiring 50% of the penalty under the Foreign Exchange Regulation Act, 1973 was sustained because it was reasonable on the facts and the appellant had not shown sufficient grounds for complete waiver. The Court noted the finding of abetment in contravention relating to unauthorised remittance of foreign exchange and accepted that financial hardship alone did not justify dispensing with the deposit requirement. The challenge to the condition therefore failed in substance, but the appellant was granted eight additional weeks to make the deposit, after which the Tribunal was directed to hear the appeal on merits. en-us Tue, 06 Nov 2012 00:00:00 +0530 Tue, 18 Dec 2012 12:16:28 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=219542 A pre-deposit condition requiring 50% of the penalty under the Foreign Exchange Regulation Act, 1973 was sustained because it was reasonable on the facts and the appellant had not shown sufficient grounds for complete waiver. The Court noted the finding of abetment in contravention relating to unauthorised remittance of foreign exchange and accepted that financial hardship alone did not justify dispensing with the deposit requirement. The challenge to the condition therefore failed in substance, but the appellant was granted eight additional weeks to make the deposit, after which the Tribunal was directed to hear the appeal on merits. Case-Laws FEMA Tue, 06 Nov 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=219542