https://www.taxtmi.com/caselaws?id=190447 Drawback already sanctioned becomes recoverable where the exporter fails to establish realisation of export proceeds within the prescribed time under the Customs Act and the Drawback Rules. The statutory scheme permits recovery if proceeds are not realised within the time allowed under FEMA or any extension granted by the RBI. Here, the Bank Realisation Certificate did not mention the date of realisation, so timely realisation was not proved. On that basis, the requirement supporting retention of drawback was not satisfied, and recovery with interest and penalty was upheld. en-us Fri, 19 Jun 2015 00:00:00 +0530 Thu, 16 Feb 2017 07:55:20 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=190447 Drawback already sanctioned becomes recoverable where the exporter fails to establish realisation of export proceeds within the prescribed time under the Customs Act and the Drawback Rules. The statutory scheme permits recovery if proceeds are not realised within the time allowed under FEMA or any extension granted by the RBI. Here, the Bank Realisation Certificate did not mention the date of realisation, so timely realisation was not proved. On that basis, the requirement supporting retention of drawback was not satisfied, and recovery with interest and penalty was upheld. Case-Laws Customs Fri, 19 Jun 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=190447