https://www.taxtmi.com/caselaws?id=314489 The court dismissed the appeals, affirming that the exporters did not violate Section 12(1) of the Foreign Exchange Regulation Act, 1947. The court found insufficient evidence to support the Collector of Customs' findings regarding alleged secret agreements and improper payment methods. Consequently, the confiscation of goods and penalties imposed were unjustified. The court also extended this conclusion to the agents, confirming that the contracts were validly with the German firm as declared. The appellants were directed to pay the respondents' costs in all appeals. A single judgment was delivered uniformly across all cases. en-us Tue, 27 Sep 1977 00:00:00 +0530 Fri, 14 Jun 2024 17:30:54 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=314489 The court dismissed the appeals, affirming that the exporters did not violate Section 12(1) of the Foreign Exchange Regulation Act, 1947. The court found insufficient evidence to support the Collector of Customs' findings regarding alleged secret agreements and improper payment methods. Consequently, the confiscation of goods and penalties imposed were unjustified. The court also extended this conclusion to the agents, confirming that the contracts were validly with the German firm as declared. The appellants were directed to pay the respondents' costs in all appeals. A single judgment was delivered uniformly across all cases. Case-Laws FEMA Tue, 27 Sep 1977 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=314489