https://www.taxtmi.com/caselaws?id=763895 The Delhi HC set aside a penalty order against an Executive Director of a public limited company for non-fulfillment of export obligations under the FTDR Act. The court found that the show-cause notice and original order failed to provide reasoning for fastening personal liability on the petitioner, violating principles of natural justice. Under Section 11(2) of the FTDR Act, personal liability requires the person to have contravened or abetted the contravention, but the petitioner's involvement was limited to signing a power-of-attorney pursuant to a board resolution. The court held that authorities must specifically consider each director's role and provide reasons for personal culpability, which was absent in this case. en-us Fri, 29 Nov 2024 00:00:00 +0530 Mon, 30 Dec 2024 14:46:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=763895 The Delhi HC set aside a penalty order against an Executive Director of a public limited company for non-fulfillment of export obligations under the FTDR Act. The court found that the show-cause notice and original order failed to provide reasoning for fastening personal liability on the petitioner, violating principles of natural justice. Under Section 11(2) of the FTDR Act, personal liability requires the person to have contravened or abetted the contravention, but the petitioner's involvement was limited to signing a power-of-attorney pursuant to a board resolution. The court held that authorities must specifically consider each director's role and provide reasons for personal culpability, which was absent in this case. Case-Laws Customs Fri, 29 Nov 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=763895