https://www.taxtmi.com/caselaws?id=457887 Non-realisation of export proceeds creates only a rebuttable presumption of contravention under foreign exchange law; liability cannot be sustained where the exporter shows reasonable steps to recover the dues, such as correspondence with the bank and buyer, requests for assistance, and applications for extension or write-off. The adjudicating authority must consider this evidence and the status of the write-off request before imposing penalty. The impugned order was set aside and the matter remitted for fresh adjudication on the exporter's efforts to realise the proceeds and the disposal of the write-off application. en-us Mon, 20 Nov 1995 00:00:00 +0530 Mon, 30 Sep 2024 13:51:05 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=457887 Non-realisation of export proceeds creates only a rebuttable presumption of contravention under foreign exchange law; liability cannot be sustained where the exporter shows reasonable steps to recover the dues, such as correspondence with the bank and buyer, requests for assistance, and applications for extension or write-off. The adjudicating authority must consider this evidence and the status of the write-off request before imposing penalty. The impugned order was set aside and the matter remitted for fresh adjudication on the exporter's efforts to realise the proceeds and the disposal of the write-off application. Case-Laws FEMA Mon, 20 Nov 1995 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=457887