Duty drawback entitled once export proceeds realised within stipulated period: Delhi HC

Innovative Crafts Vs Union of India & Ors. (Delhi High Court) Delhi High Court held that petitioner is duly entitled for the grant of duty drawback since the export proceeds have been realised within the stipulated period as prescribed in FEMA. Thus, held that freezing of bank account not justified. Facts- Petitioner is a sole proprietorship firm, engaged in the export of handicrafts. During the period 08.12.2014 to 13.12.2014, petitioner had exported 24 consignments of brass, copper and iron handicrafts to foreign buyer M/s. Metal Masters, UAE. Petitioner availed duty drawback on the exp...