https://www.taxtmi.com/caselaws?id=279804 Liability for export-proceed realisation attached to the appellant company because it was the substantive exporter, having manufactured the jewellery and controlled the export transactions, while the nominated agency only supplied gold and facilitated the structure. However, contravention was not established where the record showed repeated follow-up with foreign buyers, requests for extension of time, and other bona fide efforts to realise the proceeds. The authorities had not properly appreciated that evidence of effort and partial realisation, so the penalties were set aside and the appeals were allowed, with refund of deposited amounts according to law. en-us Tue, 02 Sep 2014 00:00:00 +0530 Sat, 06 Apr 2019 05:57:40 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=279804 Liability for export-proceed realisation attached to the appellant company because it was the substantive exporter, having manufactured the jewellery and controlled the export transactions, while the nominated agency only supplied gold and facilitated the structure. However, contravention was not established where the record showed repeated follow-up with foreign buyers, requests for extension of time, and other bona fide efforts to realise the proceeds. The authorities had not properly appreciated that evidence of effort and partial realisation, so the penalties were set aside and the appeals were allowed, with refund of deposited amounts according to law. Case-Laws FEMA Tue, 02 Sep 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=279804