https://www.taxtmi.com/caselaws?id=457724 A finding of contravention under sections 8(3), 8(4) and 64(2) of the Foreign Exchange Regulation Act, 1973 was unsustainable where the record did not show that the appellant's introduction of a person to a bank amounted to abetment of prohibited remittance, any attempt to remit funds abroad, fraudulent representation, or a nexus with the alleged violations. The adverse finding was set aside. Because the penalty rested entirely on that unsupported finding, it also could not survive and was quashed. The appeal therefore succeeded, with both the contravention finding and the penalty annulled. en-us Tue, 01 Apr 2003 00:00:00 +0530 Thu, 26 Sep 2024 16:42:39 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=457724 A finding of contravention under sections 8(3), 8(4) and 64(2) of the Foreign Exchange Regulation Act, 1973 was unsustainable where the record did not show that the appellant's introduction of a person to a bank amounted to abetment of prohibited remittance, any attempt to remit funds abroad, fraudulent representation, or a nexus with the alleged violations. The adverse finding was set aside. Because the penalty rested entirely on that unsupported finding, it also could not survive and was quashed. The appeal therefore succeeded, with both the contravention finding and the penalty annulled. Case-Laws FEMA Tue, 01 Apr 2003 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=457724