https://www.taxtmi.com/caselaws?id=457854 For foreign exchange regulation purposes, residence depends on the factual record of continued business activity and intention to return. Where evidence showed ongoing business concerns outside India, residence and business facilities abroad, and material indicating no return to India for good, the person was treated as remaining resident outside India during the relevant period. On that basis, the alleged contravention of section 8(1) of the Foreign Exchange Regulation Act, 1973 was untenable, and the penalty order was set aside with consequential relief regarding the pre-deposit and passport. en-us Fri, 08 Nov 1996 00:00:00 +0530 Sun, 29 Sep 2024 16:20:30 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=457854 For foreign exchange regulation purposes, residence depends on the factual record of continued business activity and intention to return. Where evidence showed ongoing business concerns outside India, residence and business facilities abroad, and material indicating no return to India for good, the person was treated as remaining resident outside India during the relevant period. On that basis, the alleged contravention of section 8(1) of the Foreign Exchange Regulation Act, 1973 was untenable, and the penalty order was set aside with consequential relief regarding the pre-deposit and passport. Case-Laws FEMA Fri, 08 Nov 1996 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=457854