https://www.taxtmi.com/caselaws?id=457955 The Tribunal partially allowed the appeal, confirming the Adjudicating Officer's findings of contraventions under sections 8(1) and 9(1)(d) of the Foreign Exchange Regulation Act. However, it modified the order regarding confiscation, determining that the car's confiscation was unjustified. The Tribunal imposed a penalty of Rs. 25,000 for the contravention under show-cause notice 2, ordering the car's release upon payment of this penalty. The decision considered the Appellant's circumstances and the intention behind the transactions, emphasizing proportionate penalties. en-us Tue, 03 May 1988 00:00:00 +0530 Tue, 01 Oct 2024 18:17:16 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=457955 The Tribunal partially allowed the appeal, confirming the Adjudicating Officer's findings of contraventions under sections 8(1) and 9(1)(d) of the Foreign Exchange Regulation Act. However, it modified the order regarding confiscation, determining that the car's confiscation was unjustified. The Tribunal imposed a penalty of Rs. 25,000 for the contravention under show-cause notice 2, ordering the car's release upon payment of this penalty. The decision considered the Appellant's circumstances and the intention behind the transactions, emphasizing proportionate penalties. Case-Laws FEMA Tue, 03 May 1988 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=457955