https://www.taxtmi.com/caselaws?id=457784 Mere facilitation of passenger travel, collection of foreign travel service allowance in passengers' names, and purchase of goods as accompanied baggage did not constitute acquisition of foreign exchange under section 8(1) of the Foreign Exchange Regulation Act, 1973. The record did not establish that the facilitator had paid Indian currency for the tickets, obtained foreign exchange for his own account, or become the real owner of the foreign exchange or goods. On that evidentiary basis, contravention was not proved and the penalty order could not stand. en-us Thu, 25 Jun 1998 00:00:00 +0530 Fri, 27 Sep 2024 13:22:25 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=457784 Mere facilitation of passenger travel, collection of foreign travel service allowance in passengers' names, and purchase of goods as accompanied baggage did not constitute acquisition of foreign exchange under section 8(1) of the Foreign Exchange Regulation Act, 1973. The record did not establish that the facilitator had paid Indian currency for the tickets, obtained foreign exchange for his own account, or become the real owner of the foreign exchange or goods. On that evidentiary basis, contravention was not proved and the penalty order could not stand. Case-Laws FEMA Thu, 25 Jun 1998 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=457784