https://www.taxtmi.com/caselaws?id=769804 Admitted failures to file cash transaction reports and to maintain an effective internal mechanism for detecting and reporting suspicious transactions justified penalty, but the appellate tribunal accepted that the surrounding circumstances warranted leniency in quantum. It declined to replace the penalty with a mere warning, yet reduced the monetary consequences on both counts and brought the total liability down substantially. The stated principle is that where contravention is admitted, an appellate forum may interfere with penalty quantum and impose a consolidated or reduced amount instead of maintaining a per-violation penalty when the facts support moderation. en-us Wed, 02 Apr 2025 00:00:00 +0530 Fri, 02 May 2025 08:54:46 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=769804 Admitted failures to file cash transaction reports and to maintain an effective internal mechanism for detecting and reporting suspicious transactions justified penalty, but the appellate tribunal accepted that the surrounding circumstances warranted leniency in quantum. It declined to replace the penalty with a mere warning, yet reduced the monetary consequences on both counts and brought the total liability down substantially. The stated principle is that where contravention is admitted, an appellate forum may interfere with penalty quantum and impose a consolidated or reduced amount instead of maintaining a per-violation penalty when the facts support moderation. Case-Laws Money Laundering Wed, 02 Apr 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=769804