https://www.taxtmi.com/caselaws?id=467490 The note addresses contraventions of mandatory foreign exchange filing and refund obligations under the Foreign Exchange Management Act, 1999 and its regulations, holding that failure to file intimation/FC GPR and not refunding inward remittances attracts civil monetary liability regardless of mens rea; liability for the contraventions is affirmed. It also records that the appellate authority exercised discretion to reduce penalty quantum after weighing mitigating factors, compounding opportunities and the statutory scheme, and the adjudication order was modified to impose reduced penalties as specified by the Tribunal. en-us Mon, 30 Sep 2024 00:00:00 +0530 Fri, 20 Mar 2026 18:58:41 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=467490 The note addresses contraventions of mandatory foreign exchange filing and refund obligations under the Foreign Exchange Management Act, 1999 and its regulations, holding that failure to file intimation/FC GPR and not refunding inward remittances attracts civil monetary liability regardless of mens rea; liability for the contraventions is affirmed. It also records that the appellate authority exercised discretion to reduce penalty quantum after weighing mitigating factors, compounding opportunities and the statutory scheme, and the adjudication order was modified to impose reduced penalties as specified by the Tribunal. Case-Laws FEMA Mon, 30 Sep 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=467490