https://www.taxtmi.com/caselaws?id=194979 Waiver of pre-deposit of penalty may be granted in a foreign exchange appeal where the impugned adjudication is itself doubtful and the appellant shows genuine financial hardship. The court noted that no independent finding of under-valuation was recorded, the adverse conclusion rested mainly on the view that the imports lacked a valid licence, and the imports had in fact been made with RBI permission. Those facts created a strong prima facie case on the alleged contravention and, together with the closure of business and precarious finances, established undue hardship. The pre-deposit was waived and the appeal was allowed. en-us Wed, 22 Jul 2009 00:00:00 +0530 Mon, 09 Oct 2017 18:54:50 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=194979 Waiver of pre-deposit of penalty may be granted in a foreign exchange appeal where the impugned adjudication is itself doubtful and the appellant shows genuine financial hardship. The court noted that no independent finding of under-valuation was recorded, the adverse conclusion rested mainly on the view that the imports lacked a valid licence, and the imports had in fact been made with RBI permission. Those facts created a strong prima facie case on the alleged contravention and, together with the closure of business and precarious finances, established undue hardship. The pre-deposit was waived and the appeal was allowed. Case-Laws FEMA Wed, 22 Jul 2009 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=194979