https://www.taxtmi.com/caselaws?id=758788 A foreign bank operating non-resident rupee accounts through Indian banking channels fell within the territorial reach of exchange-control law because the impugned credits produced effects in India and were routed through arrangements in India; the jurisdiction objection therefore failed. Repeated credits, the bank's own telex instructions, and surrounding correspondence were sufficient to infer instigation and intentional aid, so abetment was upheld against the bank and its former chief executive officer, and the natural justice challenge based on non-supply of documents was rejected on the record relied upon. The Tribunal found the penalties disproportionate and reduced them accordingly. en-us Thu, 04 Jul 2024 00:00:00 +0530 Wed, 18 Sep 2024 11:35:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=758788 A foreign bank operating non-resident rupee accounts through Indian banking channels fell within the territorial reach of exchange-control law because the impugned credits produced effects in India and were routed through arrangements in India; the jurisdiction objection therefore failed. Repeated credits, the bank's own telex instructions, and surrounding correspondence were sufficient to infer instigation and intentional aid, so abetment was upheld against the bank and its former chief executive officer, and the natural justice challenge based on non-supply of documents was rejected on the record relied upon. The Tribunal found the penalties disproportionate and reduced them accordingly. Case-Laws FEMA Thu, 04 Jul 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=758788