https://www.taxtmi.com/caselaws?id=457581 Section 18(2) of the Foreign Exchange Regulation Act, 1973 requires an exporter to take reasonable steps to secure repatriation of export proceeds. On the record, repatriation was proved for one consignment, but the evidence for the other two was found too weak or unrelated to displace the contravention finding. The finding of guilt was therefore deleted for one consignment and sustained for two. Because the established default covered only part of the alleged non-repatriation, the penalty was held excessive and was reduced on a proportional basis. en-us Wed, 04 Jan 2006 00:00:00 +0530 Mon, 23 Sep 2024 18:51:24 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=457581 Section 18(2) of the Foreign Exchange Regulation Act, 1973 requires an exporter to take reasonable steps to secure repatriation of export proceeds. On the record, repatriation was proved for one consignment, but the evidence for the other two was found too weak or unrelated to displace the contravention finding. The finding of guilt was therefore deleted for one consignment and sustained for two. Because the established default covered only part of the alleged non-repatriation, the penalty was held excessive and was reduced on a proportional basis. Case-Laws FEMA Wed, 04 Jan 2006 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=457581