https://www.taxtmi.com/caselaws?id=457961 The appellate tribunal set aside the penalties imposed by the Adjudicating Officer on a firm and its partners for contravening the Foreign Exchange Regulation Act, 1973, by not realizing export proceeds. The tribunal found that the appellants had made genuine efforts to recover the proceeds and overturned the penalties, absolving the firm and partners. en-us Thu, 06 Nov 1986 00:00:00 +0530 Tue, 01 Oct 2024 18:17:16 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=457961 The appellate tribunal set aside the penalties imposed by the Adjudicating Officer on a firm and its partners for contravening the Foreign Exchange Regulation Act, 1973, by not realizing export proceeds. The tribunal found that the appellants had made genuine efforts to recover the proceeds and overturned the penalties, absolving the firm and partners. Case-Laws FEMA Thu, 06 Nov 1986 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=457961