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The Appellate Tribunal under FEMA is established under:
Answer & Solution
Correct answer: B.
1. Section 18 of FEMA establishes the Appellate Tribunal for Foreign Exchange.
2. Appeals from orders of the Adjudicating Authority lie to this Tribunal.
3. Hence (B).
_Source: ICAI BoS CA Inter Paper 2 — FEMA 1999_