https://www.taxtmi.com/caselaws?id=163924 Penalty for alleged contravention of export realisation requirements cannot stand where the exporter shows bona fide efforts to recover export proceeds and the record has not been fully considered. Non-realisation alone does not establish breach if reasonable steps were taken, and a change from COD to deferred payment does not by itself negate those efforts. The Board found that relevant correspondence and surrounding facts had not been properly examined, and the appellants were not given a fair opportunity to produce supporting documents. The penalty order was set aside and the matter remitted for fresh adjudication on the complete material. en-us Wed, 13 May 1992 00:00:00 +0530 Sat, 27 May 2017 13:26:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=163924 Penalty for alleged contravention of export realisation requirements cannot stand where the exporter shows bona fide efforts to recover export proceeds and the record has not been fully considered. Non-realisation alone does not establish breach if reasonable steps were taken, and a change from COD to deferred payment does not by itself negate those efforts. The Board found that relevant correspondence and surrounding facts had not been properly examined, and the appellants were not given a fair opportunity to produce supporting documents. The penalty order was set aside and the matter remitted for fresh adjudication on the complete material. Case-Laws FEMA Wed, 13 May 1992 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=163924