https://www.taxtmi.com/caselaws?id=777707 AT dismissed the appellant's appeal seeking enhancement of penalty under FEMA, finding respondents were not the masterminds of the outward remittances and false import document scheme alleged by ED. The tribunal accepted respondents' contention they only permitted use of their accounts at the instance of others and that ED failed to apprehend or adequately investigate the real culprits. Given those findings, enhancement of penalty was unwarranted; the dismissal leaves respondents' separate cross-appeals unaffected. en-us Tue, 01 Jul 2025 00:00:00 +0530 Thu, 04 Sep 2025 08:40:35 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=777707 AT dismissed the appellant's appeal seeking enhancement of penalty under FEMA, finding respondents were not the masterminds of the outward remittances and false import document scheme alleged by ED. The tribunal accepted respondents' contention they only permitted use of their accounts at the instance of others and that ED failed to apprehend or adequately investigate the real culprits. Given those findings, enhancement of penalty was unwarranted; the dismissal leaves respondents' separate cross-appeals unaffected. Case-Laws FEMA Tue, 01 Jul 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=777707