https://www.taxtmi.com/caselaws?id=755647 The Appellate Tribunal for SAFEMA at New Delhi partly allowed an appeal in a FERA contravention case. The appellant was found guilty of violating sections 18(2) and 18(3) read with section 64(2) of FERA, 1973 for failing to recover export dues without RBI permission. While confirming the contravention, the Tribunal reduced the penalty from Rs. 50 lakhs to Rs. 14 lakhs, finding the original penalty disproportionate compared to the main defaulter's penalty of Rs. 45 lakhs, considering the appellant's limited involvement in document preparation for one shipment and receipt of Rs. 14 lakhs as work compensation. en-us Wed, 03 Jul 2024 00:00:00 +0530 Wed, 17 Jul 2024 08:05:06 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=755647 The Appellate Tribunal for SAFEMA at New Delhi partly allowed an appeal in a FERA contravention case. The appellant was found guilty of violating sections 18(2) and 18(3) read with section 64(2) of FERA, 1973 for failing to recover export dues without RBI permission. While confirming the contravention, the Tribunal reduced the penalty from Rs. 50 lakhs to Rs. 14 lakhs, finding the original penalty disproportionate compared to the main defaulter's penalty of Rs. 45 lakhs, considering the appellant's limited involvement in document preparation for one shipment and receipt of Rs. 14 lakhs as work compensation. Case-Laws FEMA Wed, 03 Jul 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=755647