https://www.taxtmi.com/highlights?id=95228 Receipt of foreign currency through a non-banking channel was admitted to have accrued on 16.07.2007 and not repatriated/surrendered within 180 days, constituting contravention of Section 3(a) and Section 4 of the Act of 1999 and Section 8 read with Regulations 3 and 7 of the 2000 Regulations; the penalty was therefore sustained but reduced proportionately considering the amount involved in Singapore Dollars, with adjustment of any pre-deposit. Separately, confiscation of the seized cash was set aside because there was no finding that the cash was used or involved in any hawala transaction or other contravention, and mere possession without nexus to a violation did not justify confiscation. - AT en-us Sat, 20 Dec 2025 07:45:34 +0530 Sat, 20 Dec 2025 07:45:35 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=95228 Receipt of foreign currency through a non-banking channel was admitted to have accrued on 16.07.2007 and not repatriated/surrendered within 180 days, constituting contravention of Section 3(a) and Section 4 of the Act of 1999 and Section 8 read with Regulations 3 and 7 of the 2000 Regulations; the penalty was therefore sustained but reduced proportionately considering the amount involved in Singapore Dollars, with adjustment of any pre-deposit. Separately, confiscation of the seized cash was set aside because there was no finding that the cash was used or involved in any hawala transaction or other contravention, and mere possession without nexus to a violation did not justify confiscation. - AT Highlights FEMA Sat, 20 Dec 2025 07:45:34 +0530 https://www.taxtmi.com/highlights?id=95228