https://www.taxtmi.com/caselaws?id=458034 The tribunal granted the appellant's request for a waiver of the pre-deposit penalty under FEMA due to demonstrated undue hardship, as the appellant's financial condition was substantiated. However, to ensure the realization of the penalty, the tribunal required the appellant to provide a bank guarantee equivalent to the penalty amount within 45 days. Failure to comply would result in the dismissal of the appeal. This decision balanced the appellant's financial constraints with the necessity of securing the penalty's enforcement, addressing allegations of involvement in hawala activities. en-us Tue, 12 Nov 2013 00:00:00 +0530 Fri, 04 Oct 2024 12:47:36 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=458034 The tribunal granted the appellant's request for a waiver of the pre-deposit penalty under FEMA due to demonstrated undue hardship, as the appellant's financial condition was substantiated. However, to ensure the realization of the penalty, the tribunal required the appellant to provide a bank guarantee equivalent to the penalty amount within 45 days. Failure to comply would result in the dismissal of the appeal. This decision balanced the appellant's financial constraints with the necessity of securing the penalty's enforcement, addressing allegations of involvement in hawala activities. Case-Laws FEMA Tue, 12 Nov 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=458034