https://www.taxtmi.com/caselaws?id=457850 Foreign-exchange penalties cannot rest on assumptions about residential status or on incomplete proof of the statutory ingredients of contravention. The commentary explains that residency must be determined under the statutory tests, disputed or contingent foreign-exchange claims are not automatically receivables for delayed-realisation charges, and approved project transactions, overdraft arrangements, inter-project movements, equipment transfers, agency commission, and sanctioned overseas office payments require examination against the actual approval framework and notice allegations. It emphasises that liability cannot be imposed by relying on inapplicable manual provisions, collateral observations, or unproven breaches, and that each alleged contravention must be established on reasoned findings from the relevant records and legal requirements. en-us Thu, 10 Jul 1997 00:00:00 +0530 Sun, 29 Sep 2024 16:20:30 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=457850 Foreign-exchange penalties cannot rest on assumptions about residential status or on incomplete proof of the statutory ingredients of contravention. The commentary explains that residency must be determined under the statutory tests, disputed or contingent foreign-exchange claims are not automatically receivables for delayed-realisation charges, and approved project transactions, overdraft arrangements, inter-project movements, equipment transfers, agency commission, and sanctioned overseas office payments require examination against the actual approval framework and notice allegations. It emphasises that liability cannot be imposed by relying on inapplicable manual provisions, collateral observations, or unproven breaches, and that each alleged contravention must be established on reasoned findings from the relevant records and legal requirements. Case-Laws FEMA Thu, 10 Jul 1997 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=457850