https://www.taxtmi.com/caselaws?id=459806 Credible bank evidence showing that export proceeds had already been realised before the adjudication order made the penalty for contravention of the export-realisation provisions unsustainable on that part of the demand, because the department had to establish that the proceeds remained outstanding. The adjudication was also premature where recovery efforts had been taken and a write-off request before the Reserve Bank of India was still pending, since no final refusal had been made and no contravention would arise if write-off were granted. The impugned penalty order was therefore set aside, leaving scope for fresh proceedings if write-off was later refused. en-us Fri, 30 Jul 1999 00:00:00 +0530 Sat, 28 Dec 2024 11:08:34 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=459806 Credible bank evidence showing that export proceeds had already been realised before the adjudication order made the penalty for contravention of the export-realisation provisions unsustainable on that part of the demand, because the department had to establish that the proceeds remained outstanding. The adjudication was also premature where recovery efforts had been taken and a write-off request before the Reserve Bank of India was still pending, since no final refusal had been made and no contravention would arise if write-off were granted. The impugned penalty order was therefore set aside, leaving scope for fresh proceedings if write-off was later refused. Case-Laws FEMA Fri, 30 Jul 1999 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=459806