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2011 (1) TMI 1236 - AT - FEMAExtract: ....... situation, the appellant cannot be held guilty of violation of Section 8(3) of FERA and the Directorate of Enforcement has erroneously imposed the penalty of Rs. 12,000/- on the appellant. In such circumstances, this appeal is allowed. The Impugned Order is accordingly set aside. The amount of penalty deposited by the appellant be returned to him.
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