https://www.taxtmi.com/article/detailed?id=16074 Section 13(1) of FEMA authorises penalty up to thrice the sum involved in a quantifiable contravention, but it does not prescribe either a fixed amount or a minimum amount of penalty. The article explains that the adjudicating authority must exercise discretion judiciously on the facts and evidence of each case, and that the maximum penalty is not mandatory. In the discussed case, the tribunal accepted that a lower penalty had been imposed after considering mitigating circumstances and declined to enhance it, noting that enhancement requires reasons and justification. en-us Wed, 25 Mar 2026 09:08:16 +0530 Wed, 25 Mar 2026 09:08:16 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=16074 Section 13(1) of FEMA authorises penalty up to thrice the sum involved in a quantifiable contravention, but it does not prescribe either a fixed amount or a minimum amount of penalty. The article explains that the adjudicating authority must exercise discretion judiciously on the facts and evidence of each case, and that the maximum penalty is not mandatory. In the discussed case, the tribunal accepted that a lower penalty had been imposed after considering mitigating circumstances and declined to enhance it, noting that enhancement requires reasons and justification. Articles FEMA - Foreign Exchange Management Wed, 25 Mar 2026 09:08:16 +0530 https://www.taxtmi.com/article/detailed?id=16074