https://www.taxtmi.com/caselaws?id=457951 The Tribunal partially allowed the appeal, reducing the penalty for contravention of Section 8(3) read with Section 8(4) of the Foreign Exchange Regulation Act, 1973, from Rs. 50,000 to Rs. 25,000. The finding and penalty for contravention of Section 9(1)(c) were set aside due to insufficient evidence. The Tribunal ordered a refund of Rs. 25,000 to the appellant within 45 days, acknowledging mitigating factors and the absence of evidence for the second charge. en-us Fri, 11 Oct 1991 00:00:00 +0530 Tue, 01 Oct 2024 18:17:16 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=457951 The Tribunal partially allowed the appeal, reducing the penalty for contravention of Section 8(3) read with Section 8(4) of the Foreign Exchange Regulation Act, 1973, from Rs. 50,000 to Rs. 25,000. The finding and penalty for contravention of Section 9(1)(c) were set aside due to insufficient evidence. The Tribunal ordered a refund of Rs. 25,000 to the appellant within 45 days, acknowledging mitigating factors and the absence of evidence for the second charge. Case-Laws FEMA Fri, 11 Oct 1991 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=457951