https://www.taxtmi.com/caselaws?id=457848 Penalty imposed on a dissolved partnership and on an individual in the wrong capacity was legally vulnerable because the firm had ceased to exist and the individual had become sole proprietor. In relation to export-realisation requirements, non-receipt of export proceeds was not established as a contravention where a write-off application had been pending before the Reserve Bank through the authorised dealer and was later granted. The operative effect was that the contravention finding and consequential penalties were set aside, with the document treating write-off under consideration as incompatible with sustaining enforcement proceedings on unauthorized non-realisation. 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 Penalty imposed on a dissolved partnership and on an individual in the wrong capacity was legally vulnerable because the firm had ceased to exist and the individual had become sole proprietor. In relation to export-realisation requirements, non-receipt of export proceeds was not established as a contravention where a write-off application had been pending before the Reserve Bank through the authorised dealer and was later granted. The operative effect was that the contravention finding and consequential penalties were set aside, with the document treating write-off under consideration as incompatible with sustaining enforcement proceedings on unauthorized non-realisation. Case-Laws FEMA Mon, 10 Nov 1997 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=457848