https://www.taxtmi.com/caselaws?id=758695 In a foreign exchange contravention matter under SAFEMA appellate review, the Tribunal considered only whether the monetary penalty should be reduced, as the finding of contravention was not pursued on merits. Taking into account the age of the show-cause notice, the part-payment already made, and the overall circumstances, it scaled down the penalty and treated the amount already deposited as full satisfaction of the reduced liability. No further deposit was required. 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 In a foreign exchange contravention matter under SAFEMA appellate review, the Tribunal considered only whether the monetary penalty should be reduced, as the finding of contravention was not pursued on merits. Taking into account the age of the show-cause notice, the part-payment already made, and the overall circumstances, it scaled down the penalty and treated the amount already deposited as full satisfaction of the reduced liability. No further deposit was required. Case-Laws FEMA Tue, 13 Aug 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=758695