https://www.taxtmi.com/caselaws?id=92453 The court found the refusal to grant Special Import Licence (SIL) based on Net Foreign Exchange (NFE) to be arbitrary and unjustified. The petitioner, a Trading House, was entitled to SIL on the basis of NFE due to substantial foreign exchange earnings. The court held that the petitioner diligently applied under both the pre-revised and revised policies and should benefit from the more favorable option. The respondents were directed to issue SIL to the petitioner based on NFE earned in the previous year, with the petitioner also awarded costs of the proceedings. en-us Mon, 30 Aug 1999 00:00:00 +0530 Wed, 02 Nov 2011 19:04:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=92453 The court found the refusal to grant Special Import Licence (SIL) based on Net Foreign Exchange (NFE) to be arbitrary and unjustified. The petitioner, a Trading House, was entitled to SIL on the basis of NFE due to substantial foreign exchange earnings. The court held that the petitioner diligently applied under both the pre-revised and revised policies and should benefit from the more favorable option. The respondents were directed to issue SIL to the petitioner based on NFE earned in the previous year, with the petitioner also awarded costs of the proceedings. Case-Laws FEMA Mon, 30 Aug 1999 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=92453