Current account treatment of overseas tournament services removed most FEMA findings, but excess EEFC remittance and delayed repatriation remained bre...
Modification of bail conditions remains available through inherent jurisdiction where onerous deposits undermine justice and cannot recover disputed d...
Merchant banker regulation consolidates registration, governance, capital, reporting, outsourcing and investor-protection requirements under an update...
Duty drawback recovery under Rule 16, despite no express limitation period, must be initiated within a reasonable time based on the facts. The text states that delayed recovery may be sustainable where fraudulent availment or suppression is alleged, but non-production of proof of export-proceeds realisation alone does not establish either ground. Where recovery proceedings begin more than seven years after drawback payments and no explanation is given for the delay, the text treats the proceedings as time-barred. It also notes that the consequential demand and penalty were set aside.
Duty drawback recovery under Rule 16, despite no express limitation period, must be initiated within a reasonable time based on the facts. The text states that delayed recovery may be sustainable where fraudulent availment or suppression is alleged, but non-production of proof of export-proceeds realisation alone does not establish either ground. Where recovery proceedings begin more than seven years after drawback payments and no explanation is given for the delay, the text treats the proceedings as time-barred. It also notes that the consequential demand and penalty were set aside.
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