https://www.taxtmi.com/caselaws?id=377497 The Tribunal allowed the appeals filed by the appellants, setting aside the penalties imposed under FEMA, 1999 for contraventions related to foreign exchange management. The liability of the appellants to pay the penalties was not established, and the Tribunal emphasized the importance of proper evidence and compliance with statutory provisions. The judgment underscored the need for a thorough consideration of evidence and understanding between parties, ultimately ruling in favor of the appellants without imposing any costs. en-us Tue, 26 Mar 2019 00:00:00 +0530 Sat, 30 Mar 2019 08:18:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=377497 The Tribunal allowed the appeals filed by the appellants, setting aside the penalties imposed under FEMA, 1999 for contraventions related to foreign exchange management. The liability of the appellants to pay the penalties was not established, and the Tribunal emphasized the importance of proper evidence and compliance with statutory provisions. The judgment underscored the need for a thorough consideration of evidence and understanding between parties, ultimately ruling in favor of the appellants without imposing any costs. Case-Laws FEMA Tue, 26 Mar 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=377497