https://www.taxtmi.com/caselaws?id=457422 An exporter under the foreign exchange law must take reasonable and timely steps to realise export proceeds within the prescribed period, and non-realisation triggers a rebuttable presumption of contravention. Mere correspondence with the foreign buyer is insufficient where recovery action is delayed beyond the statutory timeline. An RBI write-off or waiver mechanism operates only subject to its stated conditions, including compliance with any required surrender of export incentives, and cannot be relied on without proof of satisfaction of those conditions. A jurisdictional challenge to the Special Director was rejected because the statutory scheme and lawful entrustment authorised the officer to adjudicate. en-us Mon, 29 Dec 2008 00:00:00 +0530 Thu, 19 Sep 2024 12:51:50 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=457422 An exporter under the foreign exchange law must take reasonable and timely steps to realise export proceeds within the prescribed period, and non-realisation triggers a rebuttable presumption of contravention. Mere correspondence with the foreign buyer is insufficient where recovery action is delayed beyond the statutory timeline. An RBI write-off or waiver mechanism operates only subject to its stated conditions, including compliance with any required surrender of export incentives, and cannot be relied on without proof of satisfaction of those conditions. A jurisdictional challenge to the Special Director was rejected because the statutory scheme and lawful entrustment authorised the officer to adjudicate. Case-Laws FEMA Mon, 29 Dec 2008 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=457422