https://www.taxtmi.com/caselaws?id=795968 A statutory maximum penalty under the foreign-exchange regime does not require imposition at the maximum level or justify enhancement merely because the penalty is below that ceiling. The adjudicating authority must exercise discretion judicially on the facts and evidence. Where the relevant material has been assessed and no improper exercise of discretion or disproportionately low penalty is established, enhancement is unwarranted. The analysis supports maintaining the penalty imposed on the company director. en-us Thu, 16 Jul 2026 00:00:00 +0530 Thu, 30 Jul 2026 08:52:46 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=795968 A statutory maximum penalty under the foreign-exchange regime does not require imposition at the maximum level or justify enhancement merely because the penalty is below that ceiling. The adjudicating authority must exercise discretion judicially on the facts and evidence. Where the relevant material has been assessed and no improper exercise of discretion or disproportionately low penalty is established, enhancement is unwarranted. The analysis supports maintaining the penalty imposed on the company director. Case-Laws FEMA Thu, 16 Jul 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=795968