https://www.taxtmi.com/caselaws?id=755647 Contravention of the export realisation requirements under the Foreign Exchange Regulation Act was established where the appellant admitted preparing export documents, was involved in at least one shipment, and the export proceeds for the consignments were not realised within the prescribed period. The appellant's role was found to be limited, however, and the penalty was tested on proportionality against the extent of his involvement. On that basis, the penalty was held excessive in the facts of the case and was reduced. en-us Wed, 03 Jul 2024 00:00:00 +0530 Wed, 17 Jul 2024 08:05:06 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=755647 Contravention of the export realisation requirements under the Foreign Exchange Regulation Act was established where the appellant admitted preparing export documents, was involved in at least one shipment, and the export proceeds for the consignments were not realised within the prescribed period. The appellant's role was found to be limited, however, and the penalty was tested on proportionality against the extent of his involvement. On that basis, the penalty was held excessive in the facts of the case and was reduced. Case-Laws FEMA Wed, 03 Jul 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=755647