https://www.taxtmi.com/caselaws?id=190481 Recovery of drawback was justified where the exporter failed to furnish proper proof of realization of export proceeds within the stipulated time. The certificate produced did not contain the required particulars and was not the prescribed bank realization certificate in the accepted format. A circular relied on by the exporter only provided a monitoring mechanism through certificates from the authorised dealer or chartered accountant; it did not waive the obligation to prove realization. In the absence of timely proof under the statutory scheme governing drawback and foreign exchange realization, the sanctioned drawback became recoverable, and the consequential interest and penalty were upheld. en-us Fri, 19 Jun 2015 00:00:00 +0530 Fri, 17 Feb 2017 07:00:01 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=190481 Recovery of drawback was justified where the exporter failed to furnish proper proof of realization of export proceeds within the stipulated time. The certificate produced did not contain the required particulars and was not the prescribed bank realization certificate in the accepted format. A circular relied on by the exporter only provided a monitoring mechanism through certificates from the authorised dealer or chartered accountant; it did not waive the obligation to prove realization. In the absence of timely proof under the statutory scheme governing drawback and foreign exchange realization, the sanctioned drawback became recoverable, and the consequential interest and penalty were upheld. Case-Laws Central Excise Fri, 19 Jun 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=190481