https://www.taxtmi.com/caselaws?id=457558 Section 18(2) of the Foreign Exchange Regulation Act, 1973 makes the exporter's obligation subject to Reserve Bank of India permission. The record showed an RBI letter granting write-off, but the adjudicating authority had not considered that permission before finding contravention. The write-off was also stated to be subject to surrender of proportionate incentives, which required examination before any final conclusion on liability could be reached. The adjudication therefore required reconsideration in light of the RBI permission and its conditions, and contravention could not be affirmed without that analysis. en-us Mon, 24 Sep 2007 00:00:00 +0530 Mon, 23 Sep 2024 17:23:55 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=457558 Section 18(2) of the Foreign Exchange Regulation Act, 1973 makes the exporter's obligation subject to Reserve Bank of India permission. The record showed an RBI letter granting write-off, but the adjudicating authority had not considered that permission before finding contravention. The write-off was also stated to be subject to surrender of proportionate incentives, which required examination before any final conclusion on liability could be reached. The adjudication therefore required reconsideration in light of the RBI permission and its conditions, and contravention could not be affirmed without that analysis. Case-Laws FEMA Mon, 24 Sep 2007 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=457558