https://www.taxtmi.com/caselaws?id=239582 The Court upheld the Tribunal's decision to dismiss the appeals, finding the show-cause notice time-barred under FEMA due to the expiration of the limitation period. It determined that the alleged breach fell under FERA regulations, making Section 49(3) applicable instead of Section 49(5)(1) as argued by the appellant. As the breach occurred during the FERA era, the Court concluded that the proceedings were governed by FERA provisions, rendering the show-cause notice invalid under FEMA. All appeals were dismissed as lacking merit. en-us Wed, 13 Jul 2011 00:00:00 +0530 Sat, 16 Nov 2013 12:23:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=239582 The Court upheld the Tribunal's decision to dismiss the appeals, finding the show-cause notice time-barred under FEMA due to the expiration of the limitation period. It determined that the alleged breach fell under FERA regulations, making Section 49(3) applicable instead of Section 49(5)(1) as argued by the appellant. As the breach occurred during the FERA era, the Court concluded that the proceedings were governed by FERA provisions, rendering the show-cause notice invalid under FEMA. All appeals were dismissed as lacking merit. Case-Laws FEMA Wed, 13 Jul 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=239582