https://www.taxtmi.com/caselaws?id=779387 Non-realisation of export proceeds under the Foreign Exchange Regulation Act was held not to justify penalty on the facts, because the shortfall was limited and the exporters showed recovery efforts, including inability to trace foreign buyers and a write-off recommendation by the authorised dealer. Reading Sections 18(1)(a), 18(2) and 18(3) with the relevant RBI circulars, the Court recognised write-off of unrealised export dues where the shortfall was negligible. The appellants' reversal of duty drawback also supported the absence of misuse of export incentives. The penalty and concurrent adverse orders were therefore unsustainable, and relief was granted. en-us Fri, 26 Sep 2025 00:00:00 +0530 Mon, 06 Oct 2025 09:10:48 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=779387 Non-realisation of export proceeds under the Foreign Exchange Regulation Act was held not to justify penalty on the facts, because the shortfall was limited and the exporters showed recovery efforts, including inability to trace foreign buyers and a write-off recommendation by the authorised dealer. Reading Sections 18(1)(a), 18(2) and 18(3) with the relevant RBI circulars, the Court recognised write-off of unrealised export dues where the shortfall was negligible. The appellants' reversal of duty drawback also supported the absence of misuse of export incentives. The penalty and concurrent adverse orders were therefore unsustainable, and relief was granted. Case-Laws FEMA Fri, 26 Sep 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=779387