https://www.taxtmi.com/caselaws?id=285427 An independent compounding application under the Foreign Exchange Management Act, 1999 and the Foreign Exchange (Compounding Proceedings) Rules, 2000 must be considered on its own merits and decided by a reasoned order within the period prescribed by the Rules. The High Court directed that, if such an application is filed, the competent Authority is required to examine it independently and dispose of it within the statutory timeframe, rather than leaving it unattended or deciding it without reasons. en-us Mon, 19 Dec 2016 00:00:00 +0530 Sat, 11 Jan 2020 06:53:10 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=285427 An independent compounding application under the Foreign Exchange Management Act, 1999 and the Foreign Exchange (Compounding Proceedings) Rules, 2000 must be considered on its own merits and decided by a reasoned order within the period prescribed by the Rules. The High Court directed that, if such an application is filed, the competent Authority is required to examine it independently and dispose of it within the statutory timeframe, rather than leaving it unattended or deciding it without reasons. Case-Laws FEMA Mon, 19 Dec 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=285427