https://www.taxtmi.com/caselaws?id=314504 Appellants challenging penalty under the Foreign Exchange Regulation Act, 1973 were directed to deposit the contested amount within four weeks as a condition for their appeals to be heard on merits. If the appeals succeed, the Enforcement Directorate must refund the deposited sum with interest at 12% per annum from the date of deposit until refund. Non-deposit within the stipulated period will result in dismissal of the appeals for want of compliance. The bank guarantee furnished under the earlier interim order is to be returned to the appellants. en-us Wed, 19 Mar 2014 00:00:00 +0530 Sat, 15 Jun 2024 08:23:25 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=314504 Appellants challenging penalty under the Foreign Exchange Regulation Act, 1973 were directed to deposit the contested amount within four weeks as a condition for their appeals to be heard on merits. If the appeals succeed, the Enforcement Directorate must refund the deposited sum with interest at 12% per annum from the date of deposit until refund. Non-deposit within the stipulated period will result in dismissal of the appeals for want of compliance. The bank guarantee furnished under the earlier interim order is to be returned to the appellants. Case-Laws FEMA Wed, 19 Mar 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=314504