https://www.taxtmi.com/caselaws?id=457732 The appellate authority determined that the penalty initially imposed on the firm was excessive, given that a significant portion of the export value had been realized. Consequently, the penalty was reduced from Rs. 45,000 to Rs. 30,000. The penalty imposed on the partner was set aside, and Rs. 15,000 was ordered to be returned to the appellant. en-us Mon, 23 Sep 2002 00:00:00 +0530 Thu, 26 Sep 2024 16:42:39 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=457732 The appellate authority determined that the penalty initially imposed on the firm was excessive, given that a significant portion of the export value had been realized. Consequently, the penalty was reduced from Rs. 45,000 to Rs. 30,000. The penalty imposed on the partner was set aside, and Rs. 15,000 was ordered to be returned to the appellant. Case-Laws FEMA Mon, 23 Sep 2002 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=457732