The case involves the validity of documents from Income Tax ...

Court allows using documents from other legal proceedings as evidence in FERA case. Proceeds independently. The Director found guilty.

Case Laws FEMA

August 13, 2024

The case involves the validity of documents from Income Tax Department as evidence in FERA proceedings. The court held that documents from other law proceedings can be used. The court referred to a Supreme Court case stating statements under FERA can't be used for Income Tax proceedings. Two proceedings are independent. The case concerns contravention of FERA Section 9(1)(c) for a transfer of US $5 Lakhs. It was deemed a temporary loan. The Appellant Company contravened FERA. Shri R C Jain and Shri Vikram Singh were found responsible. The Director of the company also violated Section 8(1) for a US $1 lakh remittance. The charge against the Appellant Company was dropped, but the Director was found guilty. The contravention of Section 8(1) by individual / director was upheld, and US $1 lakh was confiscated.

View Source

← Previous Next →

The case involves the validity of documents from Income Tax ...

Court allows using documents from other legal proceedings as evidence in FERA case. Proceeds independently. The Director found guilty.

Case Laws FEMA

August 13, 2024

You may also like:

Clandestine removal - vanaspati - Seeking for keeping in abeyance the further proceeding pending in the court of the learned Addl. Chief Judicial Magistrate (Special...

Violation under FERA - export proceeds were not realized - The case involved allegations of violations of the FERA Act, 1973 related to the failure to realize export...

The Punjab and Haryana High Court addressed the legal right of a Hindu Undivided Family (HUF) to challenge auction proceedings of properties owned by the HUF. The court...

Recovery of Duty drawback - period for realization of export proceeds - The High court acknowledges the prima facie evidence provided by the petitioner, indicating...

The case discusses the validity of proceedings against the legal representatives of a deceased assessee when reopening notices in the name of the assessee have expired....

FERA proceedings initiated based on show cause notice alleging misdeclaration of export goods value were dropped by Enforcement Directorate against assessee. Income tax...

The High Court reviewed a case involving proceedings under FERA against a juristic person. The petitioner contended that the complaint was invalid as it was not filed by...

The Calcutta High Court dealt with a case involving a conviction u/s 57 of FERA for non-realization of export proceeds, which was later repealed and replaced by FEMA....

Prosecution for commission of offence u/s 276B r/w 278B - Sanction u/s 279(1) - TDS deducted but not deposited in time - The amount has already been deposited with...

Money laundering case involving attachment of properties. Appellant argued property was acquired prior to offense, hence cannot be attached. Court rejected contention,...

Dishonor of Cheque - Ascertaining nature of transaction - whether a criminal proceeding can be initiated and an accused held guilty when there is already a civil court...

The NCLAT held that Section 238 of the IBC gives overriding effect to proceedings u/s 7, despite Section 10 of CPC. Proceedings u/s 7 must proceed, as the Code's...

Seizure of goods - Authority for initiating proceeding against the Petitioner - Power of DRI - Merely because one of the Officers in the search and seizure proceeding...

Direction to the respondents to issue copies of the seized documents - the respondents shall permit the petitioners to take copies of those documents relied upon in the...

Electronic evidences - Section 138C of Customs Act, 1962 - it is found that the entire case proceeded on the basis of the electronic documents as evidence. But the...

Quick Updates: