https://www.taxtmi.com/caselaws?id=457723 The Appellate Tribunal affirmed the imposition of a Rs. 2.5 lakh penalty on the appellant and ordered the confiscation of Rs. 1 lakh from the seized Rs. 7 lakhs. The remaining Rs. 3,50,000 was to be refunded within six months. The appellant was linked to hawala transactions, and the Tribunal found no error in the original order despite the appellant's retraction. en-us Thu, 01 May 2003 00:00:00 +0530 Thu, 26 Sep 2024 16:42:39 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=457723 The Appellate Tribunal affirmed the imposition of a Rs. 2.5 lakh penalty on the appellant and ordered the confiscation of Rs. 1 lakh from the seized Rs. 7 lakhs. The remaining Rs. 3,50,000 was to be refunded within six months. The appellant was linked to hawala transactions, and the Tribunal found no error in the original order despite the appellant's retraction. Case-Laws FEMA Thu, 01 May 2003 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=457723