https://www.taxtmi.com/caselaws?id=203930 Sections 18(2) and 18(3) of the Foreign Exchange Regulation Act, 1973 were challenged as unconstitutional on the ground that they allegedly compelled an exporter to do an impossible act by presuming non-compliance if export proceeds were not fully repatriated within the prescribed period. The HC held that the provisions did not require performance of an impossible act; they only created a rebuttable presumption against the exporter on failure to realise proceeds in time. Their validity had already been upheld by the Supreme Court, and the Act's placement in the Ninth Schedule attracted Article 31-B protection. The constitutional challenge therefore failed, and the provisions were upheld. en-us Fri, 07 Jan 2011 00:00:00 +0530 Thu, 23 Jun 2011 11:47:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=203930 Sections 18(2) and 18(3) of the Foreign Exchange Regulation Act, 1973 were challenged as unconstitutional on the ground that they allegedly compelled an exporter to do an impossible act by presuming non-compliance if export proceeds were not fully repatriated within the prescribed period. The HC held that the provisions did not require performance of an impossible act; they only created a rebuttable presumption against the exporter on failure to realise proceeds in time. Their validity had already been upheld by the Supreme Court, and the Act's placement in the Ninth Schedule attracted Article 31-B protection. The constitutional challenge therefore failed, and the provisions were upheld. Case-Laws FEMA Fri, 07 Jan 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=203930