https://www.taxtmi.com/caselaws?id=369454 The Tribunal held that the Show Cause Notice (SCN) issued after the sunset clause of FERA was invalid, following the precedent set in a similar case. It was determined that the Directorate lacked jurisdiction under FEMA for offences committed during the FERA regime post the sunset clause. The penalty imposed on the appellant was deemed unreasonable and arbitrary, failing to consider the appellant's efforts to realize export proceeds. The Tribunal found the treatment of the appellant compared to similarly situated exporters to be discriminatory. The impugned order was set aside, and the appeal was allowed with no costs awarded. en-us Thu, 25 Oct 2018 00:00:00 +0530 Mon, 29 Oct 2018 07:40:14 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=369454 The Tribunal held that the Show Cause Notice (SCN) issued after the sunset clause of FERA was invalid, following the precedent set in a similar case. It was determined that the Directorate lacked jurisdiction under FEMA for offences committed during the FERA regime post the sunset clause. The penalty imposed on the appellant was deemed unreasonable and arbitrary, failing to consider the appellant's efforts to realize export proceeds. The Tribunal found the treatment of the appellant compared to similarly situated exporters to be discriminatory. The impugned order was set aside, and the appeal was allowed with no costs awarded. Case-Laws FEMA Thu, 25 Oct 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=369454