https://www.taxtmi.com/caselaws?id=457875 A statutory right to receive foreign exchange on export commission could not be left to private discretion; where remittance was not received, the matter had to be reported to the Reserve Bank of India under section 16(2) so directions could be sought. On the facts, contravention under section 16(1)(b) was established only for the commission relatable to invoice Nos. C4-1912 and 94 JS 119, because the right to receive had accrued, but not for invoice Nos. 94 JS 164 and 94 JS 174, where no contravention was made out. Penalty against the second appellant was unsustainable absent wilful negligence, personal gain, or other basis for individual culpability, and was set aside. en-us Tue, 27 Feb 1996 00:00:00 +0530 Mon, 30 Sep 2024 12:33:05 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=457875 A statutory right to receive foreign exchange on export commission could not be left to private discretion; where remittance was not received, the matter had to be reported to the Reserve Bank of India under section 16(2) so directions could be sought. On the facts, contravention under section 16(1)(b) was established only for the commission relatable to invoice Nos. C4-1912 and 94 JS 119, because the right to receive had accrued, but not for invoice Nos. 94 JS 164 and 94 JS 174, where no contravention was made out. Penalty against the second appellant was unsustainable absent wilful negligence, personal gain, or other basis for individual culpability, and was set aside. Case-Laws FEMA Tue, 27 Feb 1996 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=457875