Interest on the seized foreign currency - It is not as if ...

Interest on Seized Foreign Currency u/r 8(ii) Not Mandatory; Writ Petition Cannot Enforce Payment.

October 3, 2012

Case Laws FEMA HC

Interest on the seized foreign currency - It is not as if payment of interest under Rule 8 (ii) was mandatory and which could be enforced by way of a writ petition - HC

View Source

← Previous Next →

Interest on the seized foreign currency - It is not as if ...

Interest on Seized Foreign Currency u/r 8(ii) Not Mandatory; Writ Petition Cannot Enforce Payment.

October 3, 2012

Case Laws FEMA HC

You may also like:

DRI busted Foreign Currency Smuggling Racket involving Foreign Nationals; Foreign Currencies worth ₹ 6.14 crore seized

TP Adjustment - Interest on loans and advances given to the AEs - Interest rates vary and are thus dependent on the foreign currency in which the repayment is to be made...

Appellants penalized u/ss 8(1) and 8(2) of FERA for unauthorized dealing in foreign currency. Foreign currency recovered from appellants' premises. AT upheld...

Confiscation of the currency seized - validity of order for release on payment of redemption fine - The High court found that the seizure and confiscation of foreign...

Banks failed to exercise due diligence by opening letters of credit and remitting foreign exchange despite non-submission of bills of entry and other mandatory documents...

The appellant's premises were searched, leading to the seizure of substantial amounts of foreign currencies and Indian currency. The appellant initially claimed the...

The ITAT held that interest payments on Compulsorily Convertible Debentures (CCDs) denominated in Indian currency must be benchmarked against domestic interest rates,...

Foreign Exchange Management (Foreign Currency Accounts by a person resident in India) (Amendment) Regulations, 2019

RBI amends Foreign Exchange Management Regulations, extending Diamond Dollar Account qualification period from 2 to 3 years through the Foreign Exchange Management...

Interest on delayed refund - seizure of cash / currency during search - The Commissioner (Appeals) has committed an error while holding that since there is no provision...

Absolute confiscation of the cash - Smuggling - Red Sander Wood Logs - prohibited goods or not - The impugned order qua absolute confiscation of cash seized is contrary...

Disallowance on interest u/s. 36(1)(iii) - AO has compared the payment of interest @ 12%/15% on the unsecured loan obtained by the assessee with the interest amount...

Foreign Exchange Management (Foreign Currency Accounts by a person resident in India) Regulations, 2015 - Opening of Foreign Currency Accounts by Re-insurance and...

Treatment to Forex loss incurred by the assessee on account of derivative transactions as speculative transactions - When the assessee enters into a hedging transaction...

CBIC updated rates of exchange for converting various foreign currencies into Indian currency (and vice versa), For Imported Goods and For Export Goods, effective from...

Quick Updates: