2008 (6) TMI 643 - AT - FEMA

Summary

The Appellate Tribunal quashed the penalty imposed on the appellants for failure to repatriate export proceeds, citing improper service of Show Cause Notice. The matter was remanded for fresh adjudication, with the appellants required to appear before the Adjudication Officer on a specified date. The Adjudication Officer was instructed to conclude the proceedings within six months from the first hearing.