TaxTMI 
TaxTMI 
2025 (8) TMI 14
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....n the present appellant being the then Deputy General Manager of Andhra Bank (now Union Bank of India) for contravention to the extent of Rs. 2,01,70,260/- the provisions of Section 10(4) & Section 10(5) of FEMA, 1999, read with the directions contained in the A.P. (DIR Series) Circular No. 20 dated 25.10.2004. 2. As per the facts of the case, information was received by ED vide letter dated 06.12.2013 from the Ministry of Information & Broadcasting, Government of India, New Delhi, to the effect that certain companies had hired transponders of foreign satellite, but had not sought permission to remit foreign exchange from the Ministry of Information & Broadcasting. M/s Positiv Television Pvt Ltd (PTPL) was one such company, which was hav....
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....greed to have contravened the provisions of Section 10(4) of FEMA inadvertently and requested for a lenient view. A list of remittances made by HDFC Bank was furnished along with documents. Subsequently, Summons was issued to Shri Kuldeep Rawat, Branch Manager, Andhra Bank, Patel Nagar Branch, 11/24, East Patel Nagar, new Delhi-110 008 on 14.10.2015, when he informed vide his letter dated 19.10.2015 that forex transactions are done by Andhra Bank, M-35, Connaught Circus Branch, New Delhi. Accordingly, Summon was issued by ED to Shri LN Rath, OGM, Andhra Bank, Connaught Circus branch, New Delhi on 20.10.2015. Statement of Shri Laxminarayan Rath, Deputy General Manager, Andhra Bank, Connaught Circus, new Delhi was recorded on 27.10.2015....
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.... before making remittance towards hiring charges of transponders of foreign satellite by PTPL. Remittances made by Positiv Television Private Ltd. towards hiring charges of transponders of foreign satellite through Andra Bank: Sl. No. Amount remitted in FC Date of remittance Amount in INR Name of the beneficiary 1. USD 146400 07/30/12 8133984 Measat Satellite Systems 2. USD 219600 12/17/12 12036276 Do Total 20170260 There is no approval from the Ministry of Information & Broadcasting for sending remittance towards hiring charges of transponders of foreign satellite through Andhra Bank in contravention of RBI Circular No. 20 dated 25.10.2004, hence the sai....
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....e was responsible for the said foreign exchange remittances made by Noticee-7 during the relevant period has contravened the provisions of Section 10(4) & 10(5) of FEMA, 1999 read with the directions contained in the A.P. (DIR Series) Circular No. 20 dated 25.10.2004 to the extent of Rs. 2,01,70,260 in terms of Section 42 of FEMA, 1999, and thus, liable for penalty under Section 13(1) of FEMA, 1999. Accordingly, the Adjudicating Authority imposed the penalty upon the present appellant to the extent of Rs. 10,000/- (as mentioned in para no. 1 above). Aggrieved by the said order, appellant filed the present appeal. 3. After hearing both the sides, the contravention on the part of erstwhile Andhra Bank Ltd. is not disputed. The main i....
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.... 04.08.2014 to 17.01.2017. This evasive answer on the part of the Ld. Counsel for the appellant, in-spite of specific query shows that he is trying to conceal the material fact regarding the posting of the appellant in July 2012 and December, 2012 by producing the posting order, and hence, he is intentionally trying to misguide this Tribunal just by relying upon subsequent posting order of the appellant in the Cannaught Circle Branch from 04.08.2014 to 17.01.2017. It was duty on the part of the appellant to request his Bank to issue the letter reflecting his posting order for the period of July, 2012 to December, 2012, which he failed to do so. Thus, we are of considered view that in absence of any positive evidence to negate his posting fr....