https://www.taxtmi.com/highlights?id=98508 Proceedings under FEMA were not barred by Section 127J of the Customs Act because FEMA is a self-contained code and action could rest on independent evidence, but the Commissioner's reliance on hearsay statements was unsustainable. The Tribunal found that the overseas commission was paid by the foreign buyer to an overseas agent, not by the exporter, and there was no material that the exporter was liable to pay it or had claimed it in export documents. On that factual basis, the amount was neither part of the export value nor foreign exchange due or accrued to the exporter, so no contravention of FEMA, the RBI circular, or the export regulations was made out. Penalties were set aside. en-us Tue, 07 Apr 2026 07:48:40 +0530 Tue, 07 Apr 2026 07:48:42 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=98508 Proceedings under FEMA were not barred by Section 127J of the Customs Act because FEMA is a self-contained code and action could rest on independent evidence, but the Commissioner's reliance on hearsay statements was unsustainable. The Tribunal found that the overseas commission was paid by the foreign buyer to an overseas agent, not by the exporter, and there was no material that the exporter was liable to pay it or had claimed it in export documents. On that factual basis, the amount was neither part of the export value nor foreign exchange due or accrued to the exporter, so no contravention of FEMA, the RBI circular, or the export regulations was made out. Penalties were set aside. Highlights FEMA Tue, 07 Apr 2026 07:48:40 +0530 https://www.taxtmi.com/highlights?id=98508