course of assessment
proceedings, assessee
claimed the same on
revaluation of outstanding
export advance ... second
agreement, we find that application seeking permission to remit the outstanding
export advance as on 18.1.1994 was moved on 27.1.1994 and the permission
Bank through whom the export documents have been negotiated to prove that the export proceeds in relation to the particular exports have been realized through ... lead to conclusion that export proceeds have not been realized. The Revenue or DGFT have not produced any XOS (Export Outstanding) Statement issued
unrealised export proceeds of Rs.6,82,19,914/- from
export turnover for the purpose of deduction u/s 80HHC .
6.1 The unrealised export proceeds ... believed that
it was an indirect confirmation. Out of the total outstanding export
proceed of Rs.84.54 lac, only 374.37 lac were remained outstanding
enclosed to show that outstanding payable to Pushpak
Exports was NIL.
f) Regarding cash deposit of Rs.4,00,000/- in the bank account ... enclosed to show that outstanding payable to Pushpak Exports
was NIL while as on 31-3-2007 , the unsecured loan outstanding for payable
furnished a statement disclosing the forward contract vis-à-vis the
outstanding export receivables. The Ld A.R also placed reliance on a
number ... forward contracts have been
entered into only to hedge against the outstanding Export receivables.
This factual aspect has also not been examined
purchase of export bills (FDBP) i.e. export
proceeds as per the rules of the bank, consequently, PCL with the
balance outstanding ... export bill
for ` 34,26,072/- purchased on October 8, 1997 was returned
unpaid on December 11, 1997. The returned export bill was
outstanding under
with the submission that the assessee has valued the export debtors
as on 31st March on the actual realization rates of the foreign exchange,
which ... appellant has consistently applied the
realization rate for valuation of Export debtors outstanding on the
last date of accounting year. The appellant has been regularly
documents against the export within 21 days, but the party did not submit the
export documents to realize outstanding EPC of ten lakhs
Bank.
4. One Group Apparel Business Services (GABS) had availed of
export packing credit and certain facility by way of overdraft from the
respondent bank ... major component of this was the outstanding amount in respect of
W.P.(C) 3003/2015 Page 2
export packing credit availed of by GABS
export bills (a) to the International Banking
(B) Division of Baroda instead of Baroda
Industrial Estate Branch where the earlier
export bills were negotiated ... Division at Baroda Main Branch where the
earlier export bills were negotiated and
outstanding.
(m) in not verifying/not ensuring verification
of the signature
