https://www.taxtmi.com/caselaws?id=361195 The Tribunal partially allowed the appeals, reducing penalties for individuals and companies involved in illegal foreign exchange issuance and export activities. The penalties were lowered for carriers and issuing entities due to procedural violations, emphasizing the importance of compliance with FEMA and Customs Act regulations. The reduction in penalties recognized the procedural lapses but underscored the necessity of following legal and regulatory requirements for foreign exchange transactions and exports. en-us Wed, 30 May 2018 00:00:00 +0530 Thu, 31 May 2018 13:47:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=361195 The Tribunal partially allowed the appeals, reducing penalties for individuals and companies involved in illegal foreign exchange issuance and export activities. The penalties were lowered for carriers and issuing entities due to procedural violations, emphasizing the importance of compliance with FEMA and Customs Act regulations. The reduction in penalties recognized the procedural lapses but underscored the necessity of following legal and regulatory requirements for foreign exchange transactions and exports. Case-Laws Customs Wed, 30 May 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=361195