Upgrade to AI Tools ✕

We've upgraded AI Tools on TaxTMI with two powerful modes:

1. Basic
• Quick overview summary answering your query with references• Category-wise results to explore all relevant documents on TaxTMI

2. Advanced
• Includes everything in Basic
• Detailed report covering:
     - Overview Summary
     - Governing Provisions [Acts, Notifications, Circulars]
     - Relevant Case Laws
     - Tariff / Classification / HSN
     - Expert views from TaxTMI
     - Practical Guidance with immediate steps and dispute strategy

• Also highlights how each document is relevant to your query, helping you quickly understand key insights without reading the full text.Help Us Improve - by giving the rating with each AI Result:

Call Us / Help / Feedback✕

TMI Blog

Home /

Previous Next

Unaccounted Cash Recovery Leads to Reduced Penalty Under FEMA Section 10(4) for Non-Habitual Offender

X X X X Extracts X X X X

Full Text of the Document

X X X X Extracts X X X X

....AT upheld the contravention finding against the appellant for failing to justify an unaccounted amount of Rs. 7,21,800/- recovered from his premises, which violated Section 10(4) of FEMA. While rejecting the appellant's self-serving defense, the tribunal modified the penalty from Rs. 4,00,000/- to Rs. 1,00,000/-, considering the amount was already confiscated and the appellant was not a habitual offender. The pre-deposit, if any, shall be adjusted against the reduced penalty, with any excess to be refunded within three months from the appeal limitation period.....

Previous Next

Contact Us At :

FAQs :

Most Asked Video Tutorials :

Submit Feedback/Suggestion :

Unaccounted Cash Recovery Leads to Reduced Penalty Under FEMA Section 10(4) for Non-Habitual Offender