https://www.taxtmi.com/caselaws?id=770527 The Appellate Tribunal under SAFEMA dismissed an appeal seeking enhancement of penalty in a FEMA violation case. The respondent contravened Section 8 of FEMA by failing to realize export proceeds within the stipulated period without RBI permission. The Adjudicating Authority imposed a penalty of one percent of the contravened amount under Section 13(1) FEMA. The Tribunal held that penalty imposition is discretionary, requiring judicious exercise considering case facts and evidence. Finding the Authority properly considered mitigating circumstances and exercised discretion objectively, the Tribunal declined to enhance the penalty quantum and dismissed the appeal. en-us Wed, 02 Apr 2025 00:00:00 +0530 Tue, 13 May 2025 09:17:18 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=770527 The Appellate Tribunal under SAFEMA dismissed an appeal seeking enhancement of penalty in a FEMA violation case. The respondent contravened Section 8 of FEMA by failing to realize export proceeds within the stipulated period without RBI permission. The Adjudicating Authority imposed a penalty of one percent of the contravened amount under Section 13(1) FEMA. The Tribunal held that penalty imposition is discretionary, requiring judicious exercise considering case facts and evidence. Finding the Authority properly considered mitigating circumstances and exercised discretion objectively, the Tribunal declined to enhance the penalty quantum and dismissed the appeal. Case-Laws FEMA Wed, 02 Apr 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=770527