https://www.taxtmi.com/caselaws?id=457970 The appellant faced allegations of contravening the Foreign Exchange Regulation Act, 1973, resulting in penalties and confiscation of foreign exchange. The AO imposed penalties totaling Rs. 5,500, which were later consolidated to Rs. 5,000 on appeal. The confiscation order was overturned due to lack of evidence of unlawful acquisition, partially allowing the appeal. en-us Thu, 12 Jul 1984 00:00:00 +0530 Tue, 01 Oct 2024 18:17:16 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=457970 The appellant faced allegations of contravening the Foreign Exchange Regulation Act, 1973, resulting in penalties and confiscation of foreign exchange. The AO imposed penalties totaling Rs. 5,500, which were later consolidated to Rs. 5,000 on appeal. The confiscation order was overturned due to lack of evidence of unlawful acquisition, partially allowing the appeal. Case-Laws FEMA Thu, 12 Jul 1984 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=457970