https://www.taxtmi.com/caselaws?id=457958 The judgment concluded that the penalties imposed were disproportionate and unsustainable. Appeal No. 219 of 1986 was allowed, setting aside the penalty. Appeal No. 195 of 1985 was dismissed, while Appeal No. 190 of 1985 was partly allowed. The matter was remanded for fresh adjudication in consolidated proceedings, retaining the confiscated amount for final adjustment. en-us Mon, 09 Nov 1987 00:00:00 +0530 Tue, 01 Oct 2024 18:17:16 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=457958 The judgment concluded that the penalties imposed were disproportionate and unsustainable. Appeal No. 219 of 1986 was allowed, setting aside the penalty. Appeal No. 195 of 1985 was dismissed, while Appeal No. 190 of 1985 was partly allowed. The matter was remanded for fresh adjudication in consolidated proceedings, retaining the confiscated amount for final adjustment. Case-Laws FEMA Mon, 09 Nov 1987 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=457958