https://www.taxtmi.com/caselaws?id=457975 The Appellate Tribunal set aside the penalty imposed on the appellant for contravening the Foreign Exchange Regulation Act. Despite the appeal being filed beyond the prescribed period, the Tribunal exercised its discretion to entertain the appeal. The Tribunal determined that the appellant's actions constituted mere preparation, not an attempt, to contravene the Act. Consequently, the order was overturned, and the penalty amount was refunded. en-us Tue, 13 Apr 1976 00:00:00 +0530 Tue, 01 Oct 2024 18:17:16 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=457975 The Appellate Tribunal set aside the penalty imposed on the appellant for contravening the Foreign Exchange Regulation Act. Despite the appeal being filed beyond the prescribed period, the Tribunal exercised its discretion to entertain the appeal. The Tribunal determined that the appellant's actions constituted mere preparation, not an attempt, to contravene the Act. Consequently, the order was overturned, and the penalty amount was refunded. Case-Laws FEMA Tue, 13 Apr 1976 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=457975