https://www.taxtmi.com/highlights?id=102236 Foreign-currency remittances for overseas tournament services were treated as current account transactions because they did not alter assets, liabilities or contingent liabilities; related findings concerning the dedicated foreign-currency account, service-expense reimbursements, pouring-rights revenue, EEFC credits and authorised dealer liability were set aside. Reimbursements to the service provider were not borrowing or lending absent a loan arrangement or interest. EEFC-account drawals generally did not require prior approval, but remittances exceeding the recorded contractual liability constituted a contravention. Delayed repatriation of ticket-sale proceeds also constituted a contravention, while liability of office-bearers depended o..... en-us Fri, 31 Jul 2026 12:47:47 +0530 Fri, 31 Jul 2026 12:47:47 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=102236 Foreign-currency remittances for overseas tournament services were treated as current account transactions because they did not alter assets, liabilities or contingent liabilities; related findings concerning the dedicated foreign-currency account, service-expense reimbursements, pouring-rights revenue, EEFC credits and authorised dealer liability were set aside. Reimbursements to the service provider were not borrowing or lending absent a loan arrangement or interest. EEFC-account drawals generally did not require prior approval, but remittances exceeding the recorded contractual liability constituted a contravention. Delayed repatriation of ticket-sale proceeds also constituted a contravention, while liability of office-bearers depended o..... Highlights FEMA Fri, 31 Jul 2026 12:47:47 +0530 https://www.taxtmi.com/highlights?id=102236