This is premium content. Please become a Premium member. If you are already a member, login here to access the full content.
FEMA Penalty Reduced but Violation Confirmed for Netting-Off Unauthorised Foreign Commission
Case Law Details
- Case Name
- Lakshmi Chand Jain Vs Joint Director (Appellate Tribunal under SAFEMA Delhi)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Courts
- Appellate Authority, SAFEMA
Upgrade to Basic or Premium to download.
Already Upgraded? Log in.
Advertisement
Lakshmi Chand Jain Vs Joint Director (Appellate Tribunal under SAFEMA Delhi)
Tribunal Cuts FEMA Penalty but Confirms Violation: Unauthorised ‘Netting-Off’ of ₹1.72 Cr Foreign Commission Not Permitted
The Appellate Tribunal under SAFEMA/FEMA partly allowed the appeal of Shri M. Lakshmi Chand Jain, reducing the FEMA penalty from ₹30,00,000 to ₹10,00,000, while affirming that he violated Section 8 of FEMA read with Regulation 3 of the Realisation & Repatriation Regulations, 2000. The case involved foreign commission of ₹1,72,49,537, which the Appellant claimed to ...
Author Info
