https://www.taxtmi.com/caselaws?id=782567 AT held the appellant firm liable for contravention of Section 10(6) FEMA read with Regulation 6(1) of the 2000 Regulations, noting failure to exercise due diligence, absence of serious efforts to recover foreign remittance, and full payment abroad before arrival of goods, despite the firm having been cheated with empty containers and forged inspection reports. The Tribunal upheld imposition of penalty but reduced it to 25% of that imposed in the impugned order, directing adjustment of any realisable FDRs towards the reduced penalty. Penalty on the deceased individual appellant, similarly placed to another exonerated appellant, was set aside. en-us Wed, 12 Nov 2025 00:00:00 +0530 Tue, 02 Dec 2025 08:35:06 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=782567 AT held the appellant firm liable for contravention of Section 10(6) FEMA read with Regulation 6(1) of the 2000 Regulations, noting failure to exercise due diligence, absence of serious efforts to recover foreign remittance, and full payment abroad before arrival of goods, despite the firm having been cheated with empty containers and forged inspection reports. The Tribunal upheld imposition of penalty but reduced it to 25% of that imposed in the impugned order, directing adjustment of any realisable FDRs towards the reduced penalty. Penalty on the deceased individual appellant, similarly placed to another exonerated appellant, was set aside. Case-Laws FEMA Wed, 12 Nov 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=782567