TMI Blog2018 (2) TMI 759X X X X Extracts X X X X X X X X Extracts X X X X ..... e Act (FEMA) and Central Excise Duties and Service Tax Drawback Rules, 1995 - Held that: - if the petitioner produces evidence to show that the sale proceeds have been realized within the time provided by the R.B.I., which is one year in the instant case, then, the petitioner would be entitled for being repaid the amount, so recovered. However, it is not very clear as to whether such recovery has ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ecovery notice, dated 26.03.2013. 3. The impugned order-in-original was passed on the ground that the petitioner failed to produce evidence of realization of export proceeds in respect of the exported goods within the period allowed under the Foreign Exchange Maintenance Act (FEMA) and Central Excise Duties and Service Tax Drawback Rules, 1995 (for short Rules). 4. According to the petitione ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... f Customs or Deputy Commissioner of Customs to the claimant, provided, the sale proceeds have been realized within the period permitted by the Reserve Bank of India (R.B.I.). Since the Stay Petitions filed in these Writ Petitions were dismissed, and in probabilities, the amount should have been recovered. If that is so, and if the petitioner produces evidence to show that the sale proceeds have be ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... llowed, the impugned orders are set aside and the matter is remanded to the first respondent for fresh consideration. The petitioner is directed to appear before the first respondent and produce proof to show that the Bank Realization Certificate was available well within the period of one year stipulated under the Scheme. If the proof is produced, the first respondent is directed to consider the ..... X X X X Extracts X X X X X X X X Extracts X X X X
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