https://www.taxtmi.com/caselaws?id=171423 A penalty for not furnishing the Exchange Control copy of the Bill of Entry was unsustainable where the import transaction was bona fide, the goods import and banking remittance were established, and the only lapse was failure to produce the original copy within the stipulated time. The omission was treated as a procedural irregularity, not a substantive contravention, and penalty was held to be discretionary and inappropriate for a technical or venial breach absent dishonest intent or real prejudice. The penalty was therefore set aside. en-us Tue, 08 Feb 2005 00:00:00 +0530 Tue, 14 May 2024 17:27:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=171423 A penalty for not furnishing the Exchange Control copy of the Bill of Entry was unsustainable where the import transaction was bona fide, the goods import and banking remittance were established, and the only lapse was failure to produce the original copy within the stipulated time. The omission was treated as a procedural irregularity, not a substantive contravention, and penalty was held to be discretionary and inappropriate for a technical or venial breach absent dishonest intent or real prejudice. The penalty was therefore set aside. Case-Laws FEMA Tue, 08 Feb 2005 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=171423