https://www.taxtmi.com/caselaws?id=47567 Penal action under Section 11(2) of the Foreign Trade (Development and Regulation) Act, 1992 was considered in the context of lawful import of capital goods under the EPCG scheme followed by failure to meet export obligation. The court reasoned that there was no contravention at the stage of import, no contumacious or dishonest conduct, and the revenue had already been safeguarded through recovery measures and confiscation. On that basis, mere non-fulfilment of the export target was treated as a technical or venial breach and was held insufficient to justify penalty. en-us Fri, 27 May 2005 00:00:00 +0530 Thu, 29 Jul 2010 14:45:29 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=47567 Penal action under Section 11(2) of the Foreign Trade (Development and Regulation) Act, 1992 was considered in the context of lawful import of capital goods under the EPCG scheme followed by failure to meet export obligation. The court reasoned that there was no contravention at the stage of import, no contumacious or dishonest conduct, and the revenue had already been safeguarded through recovery measures and confiscation. On that basis, mere non-fulfilment of the export target was treated as a technical or venial breach and was held insufficient to justify penalty. Case-Laws Customs Fri, 27 May 2005 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=47567