https://www.taxtmi.com/caselaws?id=753902 A delayed FC-TRS filing under FEMA may be compounded in ordinary cases, but the proviso to Rule 8(2) of the Compounding Proceedings Rules, 2000 bars compounding where the contravention is reasonably suspected to involve money laundering, terror financing, or threats to sovereignty and integrity. Once adjudicatory proceedings have been initiated in such a case, the compounding authority cannot continue with compounding and must remit the matter for adjudication. The article concludes that returning the application in these circumstances was valid. en-us Mon, 03 Jun 2024 00:00:00 +0530 Thu, 13 Jun 2024 08:09:46 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=753902 A delayed FC-TRS filing under FEMA may be compounded in ordinary cases, but the proviso to Rule 8(2) of the Compounding Proceedings Rules, 2000 bars compounding where the contravention is reasonably suspected to involve money laundering, terror financing, or threats to sovereignty and integrity. Once adjudicatory proceedings have been initiated in such a case, the compounding authority cannot continue with compounding and must remit the matter for adjudication. The article concludes that returning the application in these circumstances was valid. Case-Laws FEMA Mon, 03 Jun 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=753902