https://www.taxtmi.com/caselaws?id=457489 A foreign exchange remittance made for a specific collaboration purpose had to be shown to have been actually used for that permitted purpose, and the appellants' failure to produce evidence of receipt of technical know-how, training, or related benefits sustained the contravention and penalty. The Tribunal held that the burden lay on the person proceeded against to prove proper utilisation, and the statutory presumption of culpable mental state meant the absence of mens rea did not defeat the proceedings. It also upheld the individual director's liability because the notice clearly alleged responsibility for the company's business and that allegation was not effectively rebutted. The penalty order was affirmed and the appeals failed. en-us Tue, 15 Jul 2008 00:00:00 +0530 Fri, 20 Sep 2024 17:12:25 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=457489 A foreign exchange remittance made for a specific collaboration purpose had to be shown to have been actually used for that permitted purpose, and the appellants' failure to produce evidence of receipt of technical know-how, training, or related benefits sustained the contravention and penalty. The Tribunal held that the burden lay on the person proceeded against to prove proper utilisation, and the statutory presumption of culpable mental state meant the absence of mens rea did not defeat the proceedings. It also upheld the individual director's liability because the notice clearly alleged responsibility for the company's business and that allegation was not effectively rebutted. The penalty order was affirmed and the appeals failed. Case-Laws FEMA Tue, 15 Jul 2008 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=457489