https://www.taxtmi.com/caselaws?id=435688 The Supreme Court affirmed the forfeiture of M/s. Platinum Theatre under the Smugglers and Foreign Exchange Manipulators (Forfeiture of Property) Act, 1976. The court found that the appellants did not provide satisfactory evidence to refute the illegal acquisition of the property, supporting the competent authority's decision. Additionally, the court rejected the argument of delay in initiating forfeiture proceedings, stating that the timeline did not warrant interference with the forfeiture order. The appeal was dismissed, upholding the legality of the forfeiture. en-us Wed, 22 Mar 2023 00:00:00 +0530 Tue, 26 Sep 2023 10:44:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=435688 The Supreme Court affirmed the forfeiture of M/s. Platinum Theatre under the Smugglers and Foreign Exchange Manipulators (Forfeiture of Property) Act, 1976. The court found that the appellants did not provide satisfactory evidence to refute the illegal acquisition of the property, supporting the competent authority's decision. Additionally, the court rejected the argument of delay in initiating forfeiture proceedings, stating that the timeline did not warrant interference with the forfeiture order. The appeal was dismissed, upholding the legality of the forfeiture. Case-Laws FEMA Wed, 22 Mar 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=435688