https://www.taxtmi.com/caselaws?id=780911 AT found the EOU diverted duty-free imported silk yarn to the domestic market and exported bricks and silk waste instead of declared powder-grade silk yarn, breaching s.3(b) and s.3(d) of FEMA. The Tribunal noted prior waiver of the pre-deposit and held the appellant liable for both contraventions. The cumulative penalty was reduced from Rs.12,00,000 to Rs.6,00,000, apportioned Rs.3,00,000 for each contravention. The appeal was partly allowed. en-us Wed, 29 Oct 2025 00:00:00 +0530 Sat, 08 Nov 2025 08:30:01 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=780911 AT found the EOU diverted duty-free imported silk yarn to the domestic market and exported bricks and silk waste instead of declared powder-grade silk yarn, breaching s.3(b) and s.3(d) of FEMA. The Tribunal noted prior waiver of the pre-deposit and held the appellant liable for both contraventions. The cumulative penalty was reduced from Rs.12,00,000 to Rs.6,00,000, apportioned Rs.3,00,000 for each contravention. The appeal was partly allowed. Case-Laws FEMA Wed, 29 Oct 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=780911