TMI BlogSpecial provisions relating to assets held outside India in contravention of section 4X X X X Extracts X X X X X X X X Extracts X X X X ..... entral Government has reason to believe that any foreign exchange, foreign security, or any immovable property, situated outside India, is suspected to have been held in contravention of section 4, he may after recording the reasons in writing, by an order, seize value equivalent, situated within India, of such foreign exchange, foreign security or immovable property: Provided that no such seiz ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... aggrieved person. Explanation.- While computing the period of one hundred eighty days, the period of stay granted by court shall be excluded and a further period of at least thirty days shall be granted from the date of communication of vacation of such stay order. . (4) The order of the Competent Authority confirming seizure of eqivalent asset shall continue till the disposal of adjudicat ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... n (1). (5) Any person aggrieved by any order passed by the Competent Authority may prefer an appeal to the Appellate Tribunal. (6) Nothing contained in section 15 shall apply to this section.] ----------------- Notes:- 1. Inserted vide THE FINANCE ACT, 2015 w.e.f. 14th May 2015 - - statute, statutory provisions legislation, law, enactment, Acts, Rules, Regulation ..... X X X X Extracts X X X X X X X X Extracts X X X X
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