https://www.taxtmi.com/article/detailed?id=12893 Section 37A empowers an Authorized Officer to seize assets within India equal to the value of suspected foreign assets held in contravention of Section 4, subject to prescribed thresholds; the seizure must be placed before the Competent Authority within thirty days, which must confirm or set aside the seizure within 180 days after hearing Enforcement and the aggrieved person. A confirmed seizure remains until adjudication disposal, where the Adjudicating Authority shall give directions; voluntary disclosure and repatriation by the aggrieved person permits reconsideration of the seizure, and appeal lies to the Appellate Tribunal. The Madras High Court held that Section 37A does not bar adjudication under Section 16 and directed the Adjudicating Authority to address the seizure in its final order. en-us Mon, 02 Sep 2024 10:06:40 +0530 Mon, 02 Sep 2024 10:06:40 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=12893 Section 37A empowers an Authorized Officer to seize assets within India equal to the value of suspected foreign assets held in contravention of Section 4, subject to prescribed thresholds; the seizure must be placed before the Competent Authority within thirty days, which must confirm or set aside the seizure within 180 days after hearing Enforcement and the aggrieved person. A confirmed seizure remains until adjudication disposal, where the Adjudicating Authority shall give directions; voluntary disclosure and repatriation by the aggrieved person permits reconsideration of the seizure, and appeal lies to the Appellate Tribunal. The Madras High Court held that Section 37A does not bar adjudication under Section 16 and directed the Adjudicating Authority to address the seizure in its final order. Articles FEMA - Foreign Exchange Management Mon, 02 Sep 2024 10:06:40 +0530 https://www.taxtmi.com/article/detailed?id=12893