https://www.taxtmi.com/caselaws?id=457760 An appeal filed beyond the prescribed limitation period was rejected as time-barred because no sufficient cause was shown for condonation. The Tribunal also rejected dispensation of pre-deposit, holding that unsupported hardship pleas did not justify relief. On merits, failure to realise export proceeds, without obtaining RBI extension or taking effective recovery or write-off steps, triggered the statutory presumption under section 18(3) that reasonable steps had not been taken. The appellants did not rebut that presumption, so contravention under section 18(2) was made out and the penalty order was left undisturbed. en-us Fri, 22 Jun 2001 00:00:00 +0530 Thu, 26 Sep 2024 18:51:50 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=457760 An appeal filed beyond the prescribed limitation period was rejected as time-barred because no sufficient cause was shown for condonation. The Tribunal also rejected dispensation of pre-deposit, holding that unsupported hardship pleas did not justify relief. On merits, failure to realise export proceeds, without obtaining RBI extension or taking effective recovery or write-off steps, triggered the statutory presumption under section 18(3) that reasonable steps had not been taken. The appellants did not rebut that presumption, so contravention under section 18(2) was made out and the penalty order was left undisturbed. Case-Laws FEMA Fri, 22 Jun 2001 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=457760