https://www.taxtmi.com/caselaws?id=107562 Bona fide shortfall in export obligation under an advance licence may be regularised where subsequent exports bring the firm into compliance and the policy supports relief for old cases. The authority noted the absence of mala fides, the firm's sick-company status under BIFR, and the policy public notice permitting regularisation of genuine defaults. On that basis, it declined a strictly technical approach and withdrew the show cause notice, leaving the matter without penalty after the default was treated as curable through later compliance. en-us Tue, 27 May 2003 00:00:00 +0530 Fri, 23 Mar 2012 14:07:55 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=107562 Bona fide shortfall in export obligation under an advance licence may be regularised where subsequent exports bring the firm into compliance and the policy supports relief for old cases. The authority noted the absence of mala fides, the firm's sick-company status under BIFR, and the policy public notice permitting regularisation of genuine defaults. On that basis, it declined a strictly technical approach and withdrew the show cause notice, leaving the matter without penalty after the default was treated as curable through later compliance. Case-Laws Customs Tue, 27 May 2003 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=107562