https://www.taxtmi.com/caselaws?id=457848 The Appellate Tribunal of the Foreign Exchange Regulation Appellate Board allowed the appeal, setting aside the penalties imposed under the Foreign Exchange Regulation Act, 1973. The Tribunal identified errors in penalty imposition on a dissolved firm and invalidated the contravention finding under section 18(2), as the RBI had granted a write-off for the export proceeds. The waiver of pre-deposit was granted, and the appeal was disposed of based on these legal infirmities. en-us Mon, 10 Nov 1997 00:00:00 +0530 Sun, 29 Sep 2024 16:20:30 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=457848 The Appellate Tribunal of the Foreign Exchange Regulation Appellate Board allowed the appeal, setting aside the penalties imposed under the Foreign Exchange Regulation Act, 1973. The Tribunal identified errors in penalty imposition on a dissolved firm and invalidated the contravention finding under section 18(2), as the RBI had granted a write-off for the export proceeds. The waiver of pre-deposit was granted, and the appeal was disposed of based on these legal infirmities. Case-Laws FEMA Mon, 10 Nov 1997 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=457848