https://www.taxtmi.com/highlights?id=101365 Vicarious liability for non-realisation of export proceeds requires proof that the director was in charge of and responsible for the company's business at the time of the contravention. The Tribunal held that most exports occurred after the director's resignation, one claim had not yet matured for realisation, and the complaint did not identify his specific role or any material showing personal responsibility for the unrealised proceeds. In the absence of a factual foundation establishing day-to-day control or responsibility, the department failed to discharge the burden for fastening penalty, and the penalty was cancelled. en-us Sat, 04 Jul 2026 08:15:43 +0530 Sat, 04 Jul 2026 08:15:45 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=101365 Vicarious liability for non-realisation of export proceeds requires proof that the director was in charge of and responsible for the company's business at the time of the contravention. The Tribunal held that most exports occurred after the director's resignation, one claim had not yet matured for realisation, and the complaint did not identify his specific role or any material showing personal responsibility for the unrealised proceeds. In the absence of a factual foundation establishing day-to-day control or responsibility, the department failed to discharge the burden for fastening penalty, and the penalty was cancelled. Highlights FEMA Sat, 04 Jul 2026 08:15:43 +0530 https://www.taxtmi.com/highlights?id=101365