Non realization of export proceeds - penalty imposed on the firm ...

FEMA

September 15, 2012

Non realization of export proceeds - penalty imposed on the firm confirmed but reduced to 35% - penalty on partners deleted - The word “firm” or the “firm name” is merely a compendious description of all the partners collectively - HC

View Source

← Previous Next →

Non realization of export proceeds - penalty imposed on the firm ...

FEMA

September 15, 2012

You may also like:

Export of Goods and Software – Realisation and Repatriation of export proceeds – Liberalisation - Circular

Recovery of Duty drawback - period for realization of export proceeds - The High court acknowledges the prima facie evidence provided by the petitioner, indicating...

Levy of penalty on Proprietor of the Firm under Rule 26(2) of Central Excise Rules, 2002 - fraudulent availment of CENVAT Credit - Taking note of the fact that penalty...

Quantum of penalty u/s 114 of CA - Power of Commissioner (Appeals) to reduce the penalty - It is not the case that penalties imposed under the provisions is a mandatory...

Smuggling - illegal importation of the seized gold - Confiscation of the gold and Indian currency - The Tribunal found no evidence linking the seized Indian currency to...

Concealment of turnover - validity of assessment and Levy of penalty - recording of satisfaction is sine qua non before proceeding to impose tax and penalty upon the...

Minimum Export Price on export of Onions imposed - Otherwise export is 'Free' - Further export duty on onions reduced to NIL

Offence under FERA - Non-realization of payment towards exported goods - “reasonable steps” to be taken for securing the sale proceeds of exports or not? - concerned...

Penalty u/s 271(1)(c) - maximum penalty @ 300% - Defective notice - non specification of any specific limb or clause - AO has conclusively held in the penalty order that...

TP adjustment - Arms’ length price of international transaction of overdue export proceeds - non-charging of interest on advances being overdue export proceeds from...

Penalty u/s 271(1)(b) - Default by assessee - mens rea is not an essential element for imposing penalty for non compliance of notices issued by AO - penalty confirmed - AT

Levy of penalty - Generalia specialibus non derogant - levy of special penalty over general penalty - the Commissioner perfectly justified in imposing penalty under...

The impact of imposing penalty and purpose of reduced penalty not fulfilled - deterring the appellant from repeating the offence - Continued violation of policy...

Export of goods - there is no condition that in respect of the goods exported, the export proceeds must be received within any stipulated period - the condition...

Refund of Customs duties paid at the time of assessment - goods short shipped - Since the goods under question were not exported, there is no relevance in bringing into...

Quick Updates: