https://www.taxtmi.com/caselaws?id=279763 Non-realisation of export proceeds does not automatically establish contravention where the statutory presumption is rebuttable. The appellant was shown to have made repeated efforts to recover payment through correspondence with buyers, assistance from the authorised dealer and the Indian High Commission, continued action after buyer liquidation, and an RBI write-off request when recovery became unlikely. On that evidence, the presumption was rebutted and no contravention for failure to realise export proceeds was made out; the penalty could not stand. en-us Wed, 20 Jun 2001 00:00:00 +0530 Thu, 04 Apr 2019 15:21:59 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=279763 Non-realisation of export proceeds does not automatically establish contravention where the statutory presumption is rebuttable. The appellant was shown to have made repeated efforts to recover payment through correspondence with buyers, assistance from the authorised dealer and the Indian High Commission, continued action after buyer liquidation, and an RBI write-off request when recovery became unlikely. On that evidence, the presumption was rebutted and no contravention for failure to realise export proceeds was made out; the penalty could not stand. Case-Laws FEMA Wed, 20 Jun 2001 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=279763