https://www.taxtmi.com/caselaws?id=457380 The appeals were dismissed by the Tribunal, affirming the adjudication orders against the appellants for contravening Sections 10(4) and 10(5) read with Section 42 of the FEM Act 1999. The Tribunal underscored the requirement for authorized dealers to exercise due care and caution, finding the penalties imposed neither harsh nor excessive. The appellants' failure to adhere to legal duties warranted the upholding of penalties, with pre-deposit amounts appropriated towards them. The Tribunal directed the remaining penalty amounts to be deposited within one week, reinforcing the legal obligations of licensed money changers to prevent fraudulent transactions. en-us Fri, 25 Sep 2009 00:00:00 +0530 Wed, 18 Sep 2024 15:03:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=457380 The appeals were dismissed by the Tribunal, affirming the adjudication orders against the appellants for contravening Sections 10(4) and 10(5) read with Section 42 of the FEM Act 1999. The Tribunal underscored the requirement for authorized dealers to exercise due care and caution, finding the penalties imposed neither harsh nor excessive. The appellants' failure to adhere to legal duties warranted the upholding of penalties, with pre-deposit amounts appropriated towards them. The Tribunal directed the remaining penalty amounts to be deposited within one week, reinforcing the legal obligations of licensed money changers to prevent fraudulent transactions. Case-Laws FEMA Fri, 25 Sep 2009 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=457380