https://www.taxtmi.com/caselaws?id=457948 The Tribunal upheld the finding of contravention of Section 8(1) of the Foreign Exchange Regulation Act, 1973, against the appellant, who was found guilty of carrying unauthorized gold and foreign exchange. Despite claims of duress and fabrication, the Tribunal found the evidence convincing. The original penalty of Rs. 44,000 was deemed excessive and reduced to Rs. 8,500, considering the circumstances. The appeal was dismissed, subject to the modified penalty amount. en-us Mon, 13 Jul 1992 00:00:00 +0530 Tue, 01 Oct 2024 18:17:16 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=457948 The Tribunal upheld the finding of contravention of Section 8(1) of the Foreign Exchange Regulation Act, 1973, against the appellant, who was found guilty of carrying unauthorized gold and foreign exchange. Despite claims of duress and fabrication, the Tribunal found the evidence convincing. The original penalty of Rs. 44,000 was deemed excessive and reduced to Rs. 8,500, considering the circumstances. The appeal was dismissed, subject to the modified penalty amount. Case-Laws FEMA Mon, 13 Jul 1992 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=457948