https://www.taxtmi.com/article/detailed?id=12135 The High Court held that penalties imposed under foreign exchange adjudications can constitute a civil debt within the inclusive definitions of the 1909 Act, but an insolvency notice issued before the adjudicatory order became final was premature and set aside. The Court further determined that a Collector cannot use a State revenue recovery statute to recover amounts due to the Central Government; recovery must be pursued under the appropriate Central revenue enactment. en-us Sat, 16 Dec 2023 11:30:37 +0530 Sat, 16 Dec 2023 11:30:37 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=12135 The High Court held that penalties imposed under foreign exchange adjudications can constitute a civil debt within the inclusive definitions of the 1909 Act, but an insolvency notice issued before the adjudicatory order became final was premature and set aside. The Court further determined that a Collector cannot use a State revenue recovery statute to recover amounts due to the Central Government; recovery must be pursued under the appropriate Central revenue enactment. Articles FEMA - Foreign Exchange Management Sat, 16 Dec 2023 11:30:37 +0530 https://www.taxtmi.com/article/detailed?id=12135