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2014 (12) TMI 1348

..... account of SACL at Punjab National Bank, Kasturba Gandhi Marg, New Delhi (PNB) - contravention of Sections 8(3) and 8(4) read with Section 68 of the Foreign Exchange Regulation Act, 1973 (FERA) - Time limitation - HELD THAT:- In the present case, the AT was in error in holding that the appeals before it were barred by limitation since they were filed beyond the outer limit of 90 days. The AT ought to have considered the explanation given by the Appellants for the delay in filing the appeals - Having considered the explanation offered by the Appellants for the delay in filing their respective appeals, the Court is of the view that the delay was for bonafide reasons and ought to be condoned. The Court notes that the question of the consequenc .....

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..... to the account of SACL at Punjab National Bank, Kasturba Gandhi Marg, New Delhi (PNB). 3. The fertilizer division of SACL, which fell to the control of the Appellant No.2, submitted a reply dated 28th June 2002 stating that in respect of the three transactions relating to the fertilizer division of SACL mentioned in SCN, alternate documents had been submitted in respect of two of them, but in respect of the 3rd, of the value of US$174000, they had not been able to trace the original bill of entry pertaining to imports. Some more time was sought for that purpose. 4. It appears that subsequently by letter dated on 17th September 2002, the ED was informed by the fertilizer division of SACL that they had been able to trace the copies of the inv .....

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..... division) filed Appeal Nos. 473 of 2003 and 488 of 2003 respectively. Mr. Ravi Mittal and SACL (fertiliser division) filed Appeal Nos. 475 of 2004 and 543 of 2004 respectively. 7. The appeals were treated as having been filed under Section 52 (2) FERA, although by that time FERA stood repealed by the Foreign Exchange Management Act, 1999 (FEMA). By order dated 31st January 2005, the AT directed SACL to deposit 10% of the penalty amount as pre-deposit. Admittedly, the said amount was not deposited. 8. By the impugned order dated 28th July 2008, the AT dismissed the appeals on three grounds. First, it was held that the appeals were time barred in terms of Section 52 (2) FERA as it was filed well beyond the outer limit of 90 days. Secondly, th .....

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..... provisions of FEMA which would apply to the appeal. Since under the proviso to Section 19 (2) FEMA, a delay beyond 90 days can be condoned provided the Appellant shows sufficient cause, the AT cannot dismiss an appeal only because it was filed beyond the outer limit of 90 days under Section 52 (2) FERA. 11. Therefore, in the present case, the AT was in error in holding that the appeals before it were barred by limitation since they were filed beyond the outer limit of 90 days. The AT ought to have considered the explanation given by the Appellants for the delay in filing the appeals. Having considered the explanation offered by the Appellants for the delay in filing their respective appeals, the Court is of the view that the delay was for b .....

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