https://www.taxtmi.com/caselaws?id=802460 Rights issues to non-residents depend on existing shares having been acquired and held in compliance with foreign-exchange regulations, including the requirement to apply for permission for the initial acquisition. Before an inquiry, the adjudicating authority must form an opinion; recorded reasons must be supplied when requested following objections to the initial notice. Penalty proportionality may be assessed in light of transactions conducted through banking channels without suppression, the interval between acquisitions and the absence of action at the time of the initial acquisition. en-us Wed, 04 Nov 2026 00:00:00 +0530 Fri, 06 Nov 2026 08:29:24 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=802460 Rights issues to non-residents depend on existing shares having been acquired and held in compliance with foreign-exchange regulations, including the requirement to apply for permission for the initial acquisition. Before an inquiry, the adjudicating authority must form an opinion; recorded reasons must be supplied when requested following objections to the initial notice. Penalty proportionality may be assessed in light of transactions conducted through banking channels without suppression, the interval between acquisitions and the absence of action at the time of the initial acquisition. Case-Laws FEMA Wed, 04 Nov 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=802460