https://www.taxtmi.com/caselaws?id=772422 The Appellate Tribunal under SAFEMA at New Delhi partly allowed the appeal by a company that violated FEMA, 1999 provisions in a Goa land deal involving foreign remittances. The Tribunal set aside the Rs. 10 lakh penalty and land confiscation order relating to agricultural land classification, finding no contravention regarding settlement zone requirements. However, penalties were maintained for receiving Rs. 1,27,32,113 from foreign companies without proper authorization and failing to submit required statements to RBI within 30 days, as these contraventions were admitted facts. en-us Mon, 10 Mar 2025 00:00:00 +0530 Mon, 09 Jun 2025 07:29:46 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=772422 The Appellate Tribunal under SAFEMA at New Delhi partly allowed the appeal by a company that violated FEMA, 1999 provisions in a Goa land deal involving foreign remittances. The Tribunal set aside the Rs. 10 lakh penalty and land confiscation order relating to agricultural land classification, finding no contravention regarding settlement zone requirements. However, penalties were maintained for receiving Rs. 1,27,32,113 from foreign companies without proper authorization and failing to submit required statements to RBI within 30 days, as these contraventions were admitted facts. Case-Laws FEMA Mon, 10 Mar 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=772422