Export Penalty Overturned: RBI's Authorization Clears Appellant of Non-Repatriation Violation; Case Remanded for Review.

The ATFE in New Delhi overturned a penalty against the appellant for not repatriating export proceeds. The Tribunal determined that the RBI had authorized a write-off, clearing the appellant of any violation. The impugned order was quashed and remanded for fresh adjudication, taking into account the RBI's letter.

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The Appellate Tribunal for Foreign Exchange in New Delhi overturned a penalty imposed on an appellant for failure to repatriate export proceeds. The Tribunal found that the RBI had granted permission for a write-off, absolving the appellant of any contravention. The impugned order was quashed and remanded for fresh adjudication considering the RBI's letter.

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