https://www.taxtmi.com/caselaws?id=279804 The Court overturned penalties imposed on a company and its directors for failing to realize export proceeds, finding them not in contravention of FERA. It determined the company, not MMTC, as the actual exporter and recognized their efforts to recover proceeds. Emphasizing the challenges faced by exporters, the Court ruled in favor of the company and directors, ordering refunds of deposited amounts due to their genuine attempts to comply with FERA regulations. en-us Tue, 02 Sep 2014 00:00:00 +0530 Sat, 06 Apr 2019 05:57:40 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=279804 The Court overturned penalties imposed on a company and its directors for failing to realize export proceeds, finding them not in contravention of FERA. It determined the company, not MMTC, as the actual exporter and recognized their efforts to recover proceeds. Emphasizing the challenges faced by exporters, the Court ruled in favor of the company and directors, ordering refunds of deposited amounts due to their genuine attempts to comply with FERA regulations. Case-Laws FEMA Tue, 02 Sep 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=279804