https://www.taxtmi.com/caselaws?id=457961 Failure to realise export proceeds within time does not establish contravention where the exporter shows bona fide and reasonable efforts to secure payment. Repeated attempts were made to recover the export dues, including requests for assistance from the RBI and other authorities, and the foreign buyer was ultimately untraceable. The record showed no inaction or lack of diligence by the exporters, who were small traders not reasonably expected to pursue recovery abroad. Subsequent receipt of the full export proceeds further supported the absence of breach. The penalty order was therefore unsustainable and was set aside. en-us Thu, 06 Nov 1986 00:00:00 +0530 Tue, 01 Oct 2024 18:17:16 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=457961 Failure to realise export proceeds within time does not establish contravention where the exporter shows bona fide and reasonable efforts to secure payment. Repeated attempts were made to recover the export dues, including requests for assistance from the RBI and other authorities, and the foreign buyer was ultimately untraceable. The record showed no inaction or lack of diligence by the exporters, who were small traders not reasonably expected to pursue recovery abroad. Subsequent receipt of the full export proceeds further supported the absence of breach. The penalty order was therefore unsustainable and was set aside. Case-Laws FEMA Thu, 06 Nov 1986 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=457961