https://www.taxtmi.com/caselaws?id=457786 Appeals against foreign exchange penalties were held not entertainable because the appellants neither made the statutory pre-deposit nor sought waiver under the prescribed appellate procedure. The appellate analysis also found that imposing monetary penalties on both a partnership firm and its partner for the same contravention amounted to impermissible duplication, because the firm is a compendious expression of its partners. Exercising appellate power, the partner's penalty was deleted while the firm's penalty was left intact. en-us Tue, 30 Nov 1999 00:00:00 +0530 Fri, 27 Sep 2024 13:22:25 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=457786 Appeals against foreign exchange penalties were held not entertainable because the appellants neither made the statutory pre-deposit nor sought waiver under the prescribed appellate procedure. The appellate analysis also found that imposing monetary penalties on both a partnership firm and its partner for the same contravention amounted to impermissible duplication, because the firm is a compendious expression of its partners. Exercising appellate power, the partner's penalty was deleted while the firm's penalty was left intact. Case-Laws FEMA Tue, 30 Nov 1999 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=457786