https://www.taxtmi.com/caselaws?id=384493 At the stay stage in foreign exchange contravention proceedings, the tribunal found that the adjudicating authority had not relied on prima facie documentary or other conclusive evidence to establish unauthorised transfer of foreign exchange or round tripping. Issues such as common directors, the actual source of funds, and the alleged offshore investment structure were treated as matters for final hearing. On that basis, the appellants were held to have a strong case on merits for interim relief, and the pre-deposit was stayed in their favour. en-us Tue, 06 Aug 2019 00:00:00 +0530 Fri, 16 Aug 2019 07:48:58 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=384493 At the stay stage in foreign exchange contravention proceedings, the tribunal found that the adjudicating authority had not relied on prima facie documentary or other conclusive evidence to establish unauthorised transfer of foreign exchange or round tripping. Issues such as common directors, the actual source of funds, and the alleged offshore investment structure were treated as matters for final hearing. On that basis, the appellants were held to have a strong case on merits for interim relief, and the pre-deposit was stayed in their favour. Case-Laws FEMA Tue, 06 Aug 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=384493