https://www.taxtmi.com/caselaws?id=780244 The AT dismissed the appeal and upheld the Adjudicating Authority's penalty under Section 13(1) of FEMA, finding the imposed penalty-though below the statutory maximum of up to three times the sum involved-was the product of objective, judicious discretion based on the evidence. The tribunal held that the statute sets a maximum but does not mandate the maximum, and the appellant failed to demonstrate that the penalty was manifestly low or that discretion was misapplied; accordingly, the adjudication order was not interfered with. en-us Thu, 25 Sep 2025 00:00:00 +0530 Mon, 27 Oct 2025 09:17:14 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=780244 The AT dismissed the appeal and upheld the Adjudicating Authority's penalty under Section 13(1) of FEMA, finding the imposed penalty-though below the statutory maximum of up to three times the sum involved-was the product of objective, judicious discretion based on the evidence. The tribunal held that the statute sets a maximum but does not mandate the maximum, and the appellant failed to demonstrate that the penalty was manifestly low or that discretion was misapplied; accordingly, the adjudication order was not interfered with. Case-Laws FEMA Thu, 25 Sep 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=780244