Tax Management India. Com TMI - Tax Management India. Com
Case Laws Acts / Rules Notifications Circulars Tariff/ ITC HSN Forms Manuals News SMS Articles Highlights
        Home        
← Previous Next →
  • Contents
  • Cases Cited

 

User Login
Username  
Password  
Stay sign in     

Forget password        New User/ Regiser

 

2016 (2) TMI 480

Head Note:
Levy of penalty for Non realization of export proceeds (foreign exchange) within six months of the date of shipment or within the extended period - Held that:- Considering the submission that almost entire sale proceeds have been realized and loss to the exchequer has subsequently been made good therefore, taking a holistic view, we are of the opinion that it will be just and fair in the circumstances that the penalties imposed which are almost half of the amount of alleged amount appear to be excessive and need to be reduced. In our considered view, the amount of penalties imposed may be slashed down to half of the amount of penalties imposed in each case.

The appeals in view of the above are partly allowed. The findings of the Adjudicating Officer holding the appellants guilty of contravening the provisions of FERA is affirmed with reduced penalty.

 


← Previous Next →

 

 

 

Discussion Forum
what is new what is new
 

Let's just recapitulate:

|| Home || About us || Feedback || Contact us || Disclaimer || Terms of Use || Privacy Policy || TMI Database || Members ||

© Taxmanagementindia.com [A unit of MS Knowledge Processing Pvt. Ltd.] All rights reserved.