https://www.taxtmi.com/caselaws?id=283500 The court found the appellant, a Vice-Chancellor, guilty of contravening Section 4(1) of the Foreign Exchange Regulation Act by receiving U.S. dollars from his brother while abroad. The court rejected claims of mala fide intentions in initiating proceedings, interpreting "acquiring foreign exchange" broadly to include gifts. It dismissed arguments regarding the Foreign Travel Scheme and Reserve Bank permissions, ruling that the appellant's actions violated the Act. The appeal was dismissed, and leave to appeal to the Supreme Court was denied. en-us Thu, 05 Oct 1978 00:00:00 +0530 Wed, 25 Sep 2019 17:25:36 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=283500 The court found the appellant, a Vice-Chancellor, guilty of contravening Section 4(1) of the Foreign Exchange Regulation Act by receiving U.S. dollars from his brother while abroad. The court rejected claims of mala fide intentions in initiating proceedings, interpreting "acquiring foreign exchange" broadly to include gifts. It dismissed arguments regarding the Foreign Travel Scheme and Reserve Bank permissions, ruling that the appellant's actions violated the Act. The appeal was dismissed, and leave to appeal to the Supreme Court was denied. Case-Laws FEMA Thu, 05 Oct 1978 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=283500