https://www.taxtmi.com/caselaws?id=457534 Under foreign exchange repatriation provisions, a rebuttable statutory presumption of non-compliance remained unrebutted because the exporters failed to show timely and sufficient steps to realise and repatriate export proceeds; a belated visit to the foreign buyer was held inadequate. The partnership firm's liability for the contravention was sustained. The individual penalties on the partners, however, were set aside because the Tribunal applied the principle that partners should not be penalised simultaneously with the firm for the same default. The appeals were therefore partly allowed. en-us Fri, 20 Jun 2008 00:00:00 +0530 Mon, 23 Sep 2024 14:20:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=457534 Under foreign exchange repatriation provisions, a rebuttable statutory presumption of non-compliance remained unrebutted because the exporters failed to show timely and sufficient steps to realise and repatriate export proceeds; a belated visit to the foreign buyer was held inadequate. The partnership firm's liability for the contravention was sustained. The individual penalties on the partners, however, were set aside because the Tribunal applied the principle that partners should not be penalised simultaneously with the firm for the same default. The appeals were therefore partly allowed. Case-Laws FEMA Fri, 20 Jun 2008 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=457534