2007 (9) TMI 725

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.... Appellate Tribunal for Foreign Exchange is delivered by Shri O.P. Nahar, Chairperson : 2. This is an appeal against adjudication order No. AD/MAS/21/2000(KSA), dated 21-2-2000 by Assistant Director, Enforcement Directorate imposing a penalty of Rs. 15,000 against the appellant for contravention of section 18(2), read with section 18(3) of the FER Act on the reasons that appellant failed to take ....

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....t where RBI permission is available no restriction remains against the exporter under section 18(2) of FER Act, 1973. For proper appreciation of this legal position the relevant provisions of section 18(2) is reproduced herein below :-- (1)(a) "18. Payment for exported goods.-- The Central Government may, by notification,......prohibit the taking or sending out......goods specified......unl....

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....ter cannot be held guilty of any contravention under section 18(2) of the FER Act. 5. As RBI has granted permission of write off by letter dated 22-5-2007 so this letter is required to be considered by Adjudication Officer. Needless to add that the RBI's write off is subject to 'surrender of proportionate amount of incentives'. As this letter of RBI has not been considered by Adjudica....