https://www.taxtmi.com/caselaws?id=467021 Show cause notice and penalty orders under FEMA and the Export Regulations were held unsustainable on grounds of inordinate delay in issuing proceedings without statutory limitation, absence of evidence that the appellant was the exporter at time of shipment (a post facto MOU with partnership firms did not effectuate exporter status or successor liability), imposition of penalties on persons who were not directors when obligations arose, and partial occurrence of exports before the regulatory transition date creating a transitional/sunset question; respondent failed to prove lack of recovery steps or justify the delay, and the appeal was allowed. en-us Thu, 02 May 2024 00:00:00 +0530 Mon, 02 Mar 2026 18:36:28 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=467021 Show cause notice and penalty orders under FEMA and the Export Regulations were held unsustainable on grounds of inordinate delay in issuing proceedings without statutory limitation, absence of evidence that the appellant was the exporter at time of shipment (a post facto MOU with partnership firms did not effectuate exporter status or successor liability), imposition of penalties on persons who were not directors when obligations arose, and partial occurrence of exports before the regulatory transition date creating a transitional/sunset question; respondent failed to prove lack of recovery steps or justify the delay, and the appeal was allowed. Case-Laws FEMA Thu, 02 May 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=467021