https://www.taxtmi.com/caselaws?id=467638 Liability for non-realisation of export proceeds under the Foreign Exchange Regulation Act extended to the de jure proprietrix of the exporting concern, because the exports were made in the concern's name and the export code remained with it. A private arrangement with another person did not displace the statutory obligation or defeat responsibility for contravention. The challenge based on denial of hearing also failed, as the record showed repeated opportunities and adjournment requests. The penalty was nevertheless moderated on the facts, because the appellant's role was limited and the original quantum was found excessive, with the amount already deposited treated as sufficient. en-us Mon, 11 Nov 2024 00:00:00 +0530 Fri, 27 Mar 2026 19:52:44 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=467638 Liability for non-realisation of export proceeds under the Foreign Exchange Regulation Act extended to the de jure proprietrix of the exporting concern, because the exports were made in the concern's name and the export code remained with it. A private arrangement with another person did not displace the statutory obligation or defeat responsibility for contravention. The challenge based on denial of hearing also failed, as the record showed repeated opportunities and adjournment requests. The penalty was nevertheless moderated on the facts, because the appellant's role was limited and the original quantum was found excessive, with the amount already deposited treated as sufficient. Case-Laws FEMA Mon, 11 Nov 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=467638