https://www.taxtmi.com/caselaws?id=759797 A party disputing liability for non-realisation of export proceeds must adduce reliable record evidence showing that the relevant GR forms were never acted upon or were withdrawn from customs control; unsupported assertions will not displace customs and banking records. The tribunal found that the GR forms were issued in the names of the two firms and treated as genuine by customs, while the appellant's certificate was inconsistent with the official record and the export documentation identified a different clearing agent. No material showed withdrawal of unused GR forms, and the appellant also failed to prove reasonable recovery efforts for the admitted exports. Contravention of Section 18(2) of the Foreign Exchange Regulation Act, 1973 was therefore not disproved, and the penalty was sustained. en-us Wed, 03 Jul 2024 00:00:00 +0530 Tue, 08 Oct 2024 17:30:32 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=759797 A party disputing liability for non-realisation of export proceeds must adduce reliable record evidence showing that the relevant GR forms were never acted upon or were withdrawn from customs control; unsupported assertions will not displace customs and banking records. The tribunal found that the GR forms were issued in the names of the two firms and treated as genuine by customs, while the appellant's certificate was inconsistent with the official record and the export documentation identified a different clearing agent. No material showed withdrawal of unused GR forms, and the appellant also failed to prove reasonable recovery efforts for the admitted exports. Contravention of Section 18(2) of the Foreign Exchange Regulation Act, 1973 was therefore not disproved, and the penalty was sustained. Case-Laws FEMA Wed, 03 Jul 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=759797