https://www.taxtmi.com/caselaws?id=256460 Non-realisation of export proceeds under FERA is not punishable per se where the exporter shows reasonable steps to recover the amount; correspondence with the authorised dealer, bank certification, and civil recovery efforts were sufficient to rebut the presumption of contravention, so the finding of guilt could not stand. A joint penalty on partners cannot be sustained without proof that each partner was responsible for the non-realisation or that the contravention occurred with their consent, connivance, or neglect under Section 68; in the absence of such attribution, the composite penalty was unsustainable and the adjudication order was set aside. en-us Thu, 06 Sep 2012 00:00:00 +0530 Fri, 13 Feb 2015 13:31:42 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=256460 Non-realisation of export proceeds under FERA is not punishable per se where the exporter shows reasonable steps to recover the amount; correspondence with the authorised dealer, bank certification, and civil recovery efforts were sufficient to rebut the presumption of contravention, so the finding of guilt could not stand. A joint penalty on partners cannot be sustained without proof that each partner was responsible for the non-realisation or that the contravention occurred with their consent, connivance, or neglect under Section 68; in the absence of such attribution, the composite penalty was unsustainable and the adjudication order was set aside. Case-Laws FEMA Thu, 06 Sep 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=256460