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2011 (12) TMI 260 - MADRAS HIGH COURTImport of Toyota Lexus Car - Department: Illegal purchase - Appellant: gifted by father-in-law, no reasonable opportunity provided, not asked for documents, notice barred by limitation - Notice issued under FERA - Held That:- Section 49(3) of FEMA has replaced FERA,the two years period was to expire on 31.5.2000, notice not effected by period of limitation. The act do not contemplate any time however period of 5 days can be considered as reasonable specially when appellant replied during such period. On ground of documents when the appellant was required to show whether he got any permission for such transaction, there would not have been any hesitation for the appellant to submit the same and it cannot be said. Decided against assessee.
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