https://www.taxtmi.com/caselaws?id=785101 Ex-post-facto approval of a prior foreign share transfer transaction regularised the failure to obtain prior clearance, thereby invalidating penalties imposed on two appellants for that contravention. Separately, lack of satisfactory explanation for the source of funds used to acquire shares remained a distinct compliance breach; the ex-post-facto approval did not waive the obligation to establish lawful funding, and the penalty for that breach on one appellant is sustained. A previously ordered pre-deposit is to be adjusted against the sustained penalty. The appeal is partly allowed accordingly. en-us Thu, 08 Jan 2026 00:00:00 +0530 Sat, 17 Jan 2026 08:45:28 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=785101 Ex-post-facto approval of a prior foreign share transfer transaction regularised the failure to obtain prior clearance, thereby invalidating penalties imposed on two appellants for that contravention. Separately, lack of satisfactory explanation for the source of funds used to acquire shares remained a distinct compliance breach; the ex-post-facto approval did not waive the obligation to establish lawful funding, and the penalty for that breach on one appellant is sustained. A previously ordered pre-deposit is to be adjusted against the sustained penalty. The appeal is partly allowed accordingly. Case-Laws FEMA Thu, 08 Jan 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=785101