https://www.taxtmi.com/caselaws?id=457900 The Tribunal partially allowed the appeal concerning the Foreign Exchange Regulation Act, 1973, upholding contraventions under sections 9(1)(b) and 9(1)(d) but setting aside the confiscation order due to insufficient evidence. It waived the pre-deposit requirement, considering the appellant's financial constraints, and reduced the penalty based on financial capacity and violation gravity. The appellant is directed to pay the revised penalty within a specified timeframe. en-us Fri, 26 Jul 1996 00:00:00 +0530 Mon, 30 Sep 2024 16:19:49 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=457900 The Tribunal partially allowed the appeal concerning the Foreign Exchange Regulation Act, 1973, upholding contraventions under sections 9(1)(b) and 9(1)(d) but setting aside the confiscation order due to insufficient evidence. It waived the pre-deposit requirement, considering the appellant's financial constraints, and reduced the penalty based on financial capacity and violation gravity. The appellant is directed to pay the revised penalty within a specified timeframe. Case-Laws FEMA Fri, 26 Jul 1996 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=457900