https://www.taxtmi.com/caselaws?id=758695 The Tribunal reduced the appellant's penalty from Rs.5 lakhs to Rs.2 lakhs, acknowledging the age of the case and the appellant's deposit of Rs.2 lakhs. The penalties were adjusted to Rs.1 lakh each for contraventions under Sections 8(1) and 9(1)(f)(i) of the Foreign Exchange Regulation Act, 1973. The deposited amount was accepted as satisfaction of the reduced penalty, and the appeal was disposed of accordingly. en-us Tue, 13 Aug 2024 00:00:00 +0530 Wed, 18 Sep 2024 07:53:01 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=758695 The Tribunal reduced the appellant's penalty from Rs.5 lakhs to Rs.2 lakhs, acknowledging the age of the case and the appellant's deposit of Rs.2 lakhs. The penalties were adjusted to Rs.1 lakh each for contraventions under Sections 8(1) and 9(1)(f)(i) of the Foreign Exchange Regulation Act, 1973. The deposited amount was accepted as satisfaction of the reduced penalty, and the appeal was disposed of accordingly. Case-Laws FEMA Tue, 13 Aug 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=758695