https://www.taxtmi.com/caselaws?id=170505 Natural justice objections failed because the appellants knew of the adjudication, appeared before the authority, admitted no reply had been filed, and were given time to produce a bank certificate and detailed response. On the export realisation issue, section 18(2) required full recovery of export proceeds and section 18(3) raised a presumption of contravention when payment was not received within the prescribed period unless reasonable recovery steps were shown. The appellants accounted for receipt of 2,400, but produced no RBI extension, waiver, or adequate explanation for the unpaid balance. The statutory presumption remained unrebutted, and the contravention finding and penalties were upheld. en-us Tue, 28 Feb 2012 00:00:00 +0530 Sat, 30 May 2015 16:44:10 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=170505 Natural justice objections failed because the appellants knew of the adjudication, appeared before the authority, admitted no reply had been filed, and were given time to produce a bank certificate and detailed response. On the export realisation issue, section 18(2) required full recovery of export proceeds and section 18(3) raised a presumption of contravention when payment was not received within the prescribed period unless reasonable recovery steps were shown. The appellants accounted for receipt of 2,400, but produced no RBI extension, waiver, or adequate explanation for the unpaid balance. The statutory presumption remained unrebutted, and the contravention finding and penalties were upheld. Case-Laws FEMA Tue, 28 Feb 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=170505