https://www.taxtmi.com/caselaws?id=457691 The Revisional Authority allowed the Revision Petition filed by the Government of India, Directorate of Enforcement, challenging the release of seized foreign currency. The adjudicating officer's decision to release the currency was deemed illegal and unjust, violating section 13(2) of FEMA, which mandates confiscation of currency involved in contraventions. The order for release was set aside, and the foreign currency was ordered to be confiscated after adjusting the penalty amount. The adjudicating authority's decision was found to exceed its jurisdiction, constituting a manifest error of law, and was thus modified to reflect the proper legal outcome. en-us Mon, 16 Feb 2004 00:00:00 +0530 Wed, 25 Sep 2024 18:44:02 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=457691 The Revisional Authority allowed the Revision Petition filed by the Government of India, Directorate of Enforcement, challenging the release of seized foreign currency. The adjudicating officer's decision to release the currency was deemed illegal and unjust, violating section 13(2) of FEMA, which mandates confiscation of currency involved in contraventions. The order for release was set aside, and the foreign currency was ordered to be confiscated after adjusting the penalty amount. The adjudicating authority's decision was found to exceed its jurisdiction, constituting a manifest error of law, and was thus modified to reflect the proper legal outcome. Case-Laws FEMA Mon, 16 Feb 2004 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=457691