https://www.taxtmi.com/caselaws?id=776223 The AT upheld the penalty imposed under Section 13(1) of FEMA for contravention of Section 6(3)(i), ruling that the appellant was not a person resident in India under Section 2(v)(i) at the relevant time, as he did not meet the 182-day stay requirement in the preceding financial year. The appellant's purchase of agricultural land in 2012-13 from foreign earnings was therefore impermissible. The Tribunal confirmed that mens rea is not required for imposing penalties under FEMA, which are civil in nature. Considering the appellant's payment from lawful foreign earnings and partial pre-deposit of the penalty, the AT reduced the penalty from Rs. 8,00,000 to Rs. 2,00,000, allowing adjustment against any pre-deposit made. en-us Tue, 01 Jul 2025 00:00:00 +0530 Thu, 07 Aug 2025 07:03:59 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=776223 The AT upheld the penalty imposed under Section 13(1) of FEMA for contravention of Section 6(3)(i), ruling that the appellant was not a person resident in India under Section 2(v)(i) at the relevant time, as he did not meet the 182-day stay requirement in the preceding financial year. The appellant's purchase of agricultural land in 2012-13 from foreign earnings was therefore impermissible. The Tribunal confirmed that mens rea is not required for imposing penalties under FEMA, which are civil in nature. Considering the appellant's payment from lawful foreign earnings and partial pre-deposit of the penalty, the AT reduced the penalty from Rs. 8,00,000 to Rs. 2,00,000, allowing adjustment against any pre-deposit made. Case-Laws FEMA Tue, 01 Jul 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=776223