https://www.taxtmi.com/caselaws?id=769629 The Foreign Exchange Regulation Act, 1973 was not confined to citizens of India and could apply to persons falling within its definitional scheme, including non-citizens in the circumstances contemplated by section 2(p); the objection that a non-citizen was outside the Act was rejected. However, penalty under section 8(1) could not be sustained without proof that the appellant satisfied the definition of a "person resident in India", because that jurisdictional fact was foundational to applying the provision. As the record did not establish the necessary ingredients of section 2(p), the penalty could not be imposed against the appellant and was set aside insofar as it related to him. en-us Tue, 08 Apr 2025 00:00:00 +0530 Tue, 29 Apr 2025 08:33:05 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=769629 The Foreign Exchange Regulation Act, 1973 was not confined to citizens of India and could apply to persons falling within its definitional scheme, including non-citizens in the circumstances contemplated by section 2(p); the objection that a non-citizen was outside the Act was rejected. However, penalty under section 8(1) could not be sustained without proof that the appellant satisfied the definition of a "person resident in India", because that jurisdictional fact was foundational to applying the provision. As the record did not establish the necessary ingredients of section 2(p), the penalty could not be imposed against the appellant and was set aside insofar as it related to him. Case-Laws FEMA Tue, 08 Apr 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=769629