https://www.taxtmi.com/highlights?id=84891 Appellants penalized u/ss 8(1) and 8(2) of FERA for unauthorized dealing in foreign currency. Foreign currency recovered from appellants' premises. AT upheld contravention but reduced penalty from Rs. 80 lakhs to Rs. 8 lakhs each, considering excessive amount despite involvement in unauthorized forex transactions. en-us Thu, 16 Jan 2025 08:17:50 +0530 Thu, 16 Jan 2025 08:17:50 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=84891 Appellants penalized u/ss 8(1) and 8(2) of FERA for unauthorized dealing in foreign currency. Foreign currency recovered from appellants' premises. AT upheld contravention but reduced penalty from Rs. 80 lakhs to Rs. 8 lakhs each, considering excessive amount despite involvement in unauthorized forex transactions. Highlights FEMA Thu, 16 Jan 2025 08:17:50 +0530 https://www.taxtmi.com/highlights?id=84891