https://www.taxtmi.com/caselaws?id=73649 A further appeal under Section 54 of the Foreign Exchange Regulation Act was held not maintainable because the dispute turned on a factual determination of the amount payable by the foreign buyer, based on correspondence, contracts and surrounding evidence. The court treated the concurrent finding as one of fact, since it rested on a choice between plausible factual inferences supported by material on record. On merits, the higher amount shown in prior correspondence was accepted as the true export price, so receipt of a lesser sum and failure to repatriate the full proceeds constituted contravention. The penalty was upheld because the construction adopted preserved foreign exchange and gave effect to the statutory scheme. en-us Mon, 29 Feb 1988 00:00:00 +0530 Thu, 02 Jun 2011 16:00:15 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=73649 A further appeal under Section 54 of the Foreign Exchange Regulation Act was held not maintainable because the dispute turned on a factual determination of the amount payable by the foreign buyer, based on correspondence, contracts and surrounding evidence. The court treated the concurrent finding as one of fact, since it rested on a choice between plausible factual inferences supported by material on record. On merits, the higher amount shown in prior correspondence was accepted as the true export price, so receipt of a lesser sum and failure to repatriate the full proceeds constituted contravention. The penalty was upheld because the construction adopted preserved foreign exchange and gave effect to the statutory scheme. Case-Laws FEMA Mon, 29 Feb 1988 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=73649