https://www.taxtmi.com/caselaws?id=373815 The Tribunal granted a stay on the penalty imposed by the Adjudicating Authority under FEMA regulations, pending appeal. It found no violations of FEMA provisions by the appellant, emphasizing that the delay in settling dues had been regularized by RBI permissions. The appellant's argument of undue hardship in depositing the penalty amount was supported by legal precedents, leading to the stay on the impugned order. Legal arguments on the jurisdiction of the RBI, interpretation of agreements, and proportionality of the penalty were considered in favor of the appellant. en-us Fri, 11 Jan 2019 00:00:00 +0530 Mon, 21 Jan 2019 09:51:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=373815 The Tribunal granted a stay on the penalty imposed by the Adjudicating Authority under FEMA regulations, pending appeal. It found no violations of FEMA provisions by the appellant, emphasizing that the delay in settling dues had been regularized by RBI permissions. The appellant's argument of undue hardship in depositing the penalty amount was supported by legal precedents, leading to the stay on the impugned order. Legal arguments on the jurisdiction of the RBI, interpretation of agreements, and proportionality of the penalty were considered in favor of the appellant. Case-Laws FEMA Fri, 11 Jan 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=373815