https://www.taxtmi.com/caselaws?id=467373 Penalty for contravention of Sections 3(a) and 4 of the Foreign Exchange Management Act, 1999 was reassessed on balance of evidence and equitable grounds; the Tribunal accepted that recovered foreign currency and prior customs adjudication supported enforcement but, weighing the appellant's factual and financial circumstances and earlier penalty proceedings, held that the appellant's fixed deposit pre-deposit is just and sufficient to satisfy the penalty and modified the impugned order accordingly, disposing of the appeal to that extent. en-us Wed, 09 Oct 2024 00:00:00 +0530 Mon, 16 Mar 2026 13:15:47 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=467373 Penalty for contravention of Sections 3(a) and 4 of the Foreign Exchange Management Act, 1999 was reassessed on balance of evidence and equitable grounds; the Tribunal accepted that recovered foreign currency and prior customs adjudication supported enforcement but, weighing the appellant's factual and financial circumstances and earlier penalty proceedings, held that the appellant's fixed deposit pre-deposit is just and sufficient to satisfy the penalty and modified the impugned order accordingly, disposing of the appeal to that extent. Case-Laws FEMA Wed, 09 Oct 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=467373