https://www.taxtmi.com/caselaws?id=457445 A managing director was held vicariously liable for failure to realise and repatriate export proceeds because the show cause notice specifically alleged responsibility for the company's export business and conduct of affairs. The Tribunal noted that, once such averments are made, the burden shifts to the person concerned to produce material rebutting that responsibility. As no material was produced to show who actually handled exports and repatriation, the plea of non-responsibility was rejected and the penalty order was upheld. en-us Tue, 02 Sep 2008 00:00:00 +0530 Thu, 19 Sep 2024 18:32:17 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=457445 A managing director was held vicariously liable for failure to realise and repatriate export proceeds because the show cause notice specifically alleged responsibility for the company's export business and conduct of affairs. The Tribunal noted that, once such averments are made, the burden shifts to the person concerned to produce material rebutting that responsibility. As no material was produced to show who actually handled exports and repatriation, the plea of non-responsibility was rejected and the penalty order was upheld. Case-Laws FEMA Tue, 02 Sep 2008 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=457445