https://www.taxtmi.com/caselaws?id=457694 The Appellate Tribunal for Foreign Exchange dismissed the appeals challenging penalties under the Foreign Exchange Regulation Act, 1947, against the firm and its partners. The Tribunal upheld the penalties, finding sufficient evidence of contraventions and rejecting arguments of insufficient evidence and lack of involvement. Deposited amounts were adjusted towards penalties, with any remaining balance to be collected promptly. The Tribunal found no basis for intervention, confirming the validity of the original findings and orders. en-us Mon, 05 Jan 2004 00:00:00 +0530 Wed, 25 Sep 2024 18:44:02 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=457694 The Appellate Tribunal for Foreign Exchange dismissed the appeals challenging penalties under the Foreign Exchange Regulation Act, 1947, against the firm and its partners. The Tribunal upheld the penalties, finding sufficient evidence of contraventions and rejecting arguments of insufficient evidence and lack of involvement. Deposited amounts were adjusted towards penalties, with any remaining balance to be collected promptly. The Tribunal found no basis for intervention, confirming the validity of the original findings and orders. Case-Laws FEMA Mon, 05 Jan 2004 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=457694