https://www.taxtmi.com/caselaws?id=364893 The appellate tribunal allowed the appeal, rejecting the review petition filed by the Enforcement Directorate under FEMA. It found the adjudication order to be illegal as the penalty amount was appropriated from frozen bank accounts and FDRs without proper confiscation. The tribunal emphasized that without confiscation, there was no basis for the Central Government to claim interest accrued on the funds. The unauthorized appropriation of funds not confiscated was deemed blatantly illegal. en-us Fri, 03 Aug 2018 00:00:00 +0530 Tue, 07 Aug 2018 08:36:47 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=364893 The appellate tribunal allowed the appeal, rejecting the review petition filed by the Enforcement Directorate under FEMA. It found the adjudication order to be illegal as the penalty amount was appropriated from frozen bank accounts and FDRs without proper confiscation. The tribunal emphasized that without confiscation, there was no basis for the Central Government to claim interest accrued on the funds. The unauthorized appropriation of funds not confiscated was deemed blatantly illegal. Case-Laws FEMA Fri, 03 Aug 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=364893