https://www.taxtmi.com/caselaws?id=775827 The AT under SAFEMA dismissed the appeal against the penalty imposed for contravention of FEMA provisions related to unauthorized foreign exchange remittance for satellite transponder hire. The appellant, a Deputy General Manager at the relevant bank branch, failed to provide evidence negating his posting there during the period of alleged contravention (July to December 2012). The Tribunal found the appellant's counsel evasive and held that the penalty of Rs. 10,000/- was justified and maintained. The penalty, already deposited, was adjusted accordingly. The appellant was allowed to file a review petition with proof of posting within the limitation period if factual. en-us Tue, 22 Jul 2025 00:00:00 +0530 Fri, 01 Aug 2025 08:15:01 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=775827 The AT under SAFEMA dismissed the appeal against the penalty imposed for contravention of FEMA provisions related to unauthorized foreign exchange remittance for satellite transponder hire. The appellant, a Deputy General Manager at the relevant bank branch, failed to provide evidence negating his posting there during the period of alleged contravention (July to December 2012). The Tribunal found the appellant's counsel evasive and held that the penalty of Rs. 10,000/- was justified and maintained. The penalty, already deposited, was adjusted accordingly. The appellant was allowed to file a review petition with proof of posting within the limitation period if factual. Case-Laws FEMA Tue, 22 Jul 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=775827