https://www.taxtmi.com/caselaws?id=273488 The Court found that the Tribunal failed to consider the Adjudicating Officer's findings on each charge independently. The Tribunal's focus on the validity of RBI permission post-FEMA enactment neglected other charges. The Court remanded the case for a fresh decision, refraining from expressing opinions on raised legal questions. The Reserve Bank's permission for a subsidiary in Mauritius was noted, leading to investments in other countries. Most charges were proved, except one, with penalties imposed accordingly. The case was disposed of without costs, excluding one charge from further proceedings. en-us Fri, 09 Dec 2011 00:00:00 +0530 Fri, 29 Jun 2018 12:15:12 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=273488 The Court found that the Tribunal failed to consider the Adjudicating Officer's findings on each charge independently. The Tribunal's focus on the validity of RBI permission post-FEMA enactment neglected other charges. The Court remanded the case for a fresh decision, refraining from expressing opinions on raised legal questions. The Reserve Bank's permission for a subsidiary in Mauritius was noted, leading to investments in other countries. Most charges were proved, except one, with penalties imposed accordingly. The case was disposed of without costs, excluding one charge from further proceedings. Case-Laws FEMA Fri, 09 Dec 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=273488