https://www.taxtmi.com/caselaws?id=367414 The Tribunal confirmed the seizure of mutual funds under Section 37(A)(3) of FEMA, 1999, totaling Rs. 10,35,20,000 or US $16,00,000 held outside India by the appellant. The Competent Authority's order confirming the seizure was upheld, rejecting the application to set aside the seizure based on subsequent developments, emphasizing the limited jurisdiction of the Appellate Tribunal in appeals against Competent Authority's orders. The Tribunal clarified that the Competent Authority has the power to deal with seizure orders and not review its own order under Section 37(A)(3), ultimately disallowing the application for setting aside the seizure. en-us Tue, 11 Sep 2018 00:00:00 +0530 Thu, 20 Sep 2018 08:21:46 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=367414 The Tribunal confirmed the seizure of mutual funds under Section 37(A)(3) of FEMA, 1999, totaling Rs. 10,35,20,000 or US $16,00,000 held outside India by the appellant. The Competent Authority's order confirming the seizure was upheld, rejecting the application to set aside the seizure based on subsequent developments, emphasizing the limited jurisdiction of the Appellate Tribunal in appeals against Competent Authority's orders. The Tribunal clarified that the Competent Authority has the power to deal with seizure orders and not review its own order under Section 37(A)(3), ultimately disallowing the application for setting aside the seizure. Case-Laws FEMA Tue, 11 Sep 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=367414