Court : Appellate Tribunal for foreign Exchange New Delhi
..... have been delegated to the working group. in support of his submission, shri chandrasekharan took us through part e of chapter ii of ecd manual, 1978 which relates to overseas construction contracts and in particular para 11e.2(i) thereof. he submitted that even the latest clarification from the rbi as obtained by the respondents in the course of these proceedings ..... . thus, the net amount of jd 147,879.449 admitted as payable to the appellant company stands received by the company. the learned adjudicating officer failed to appreciate that in construction contracts, the value of the work as shown in the final bill is not the amount receivable; it is subject to permissible deductions and adjustment of debits and it is .....
Tag this Judgment!Court : Appellate Tribunal for foreign Exchange New Delhi
..... the statutory object of protecting indian economy, which otherwise, can be termed as protecting public interest. the purposive construction is well recognized by lord griffths in pepper v. hart [1993] a.c. 593 at 617 as follows : the days have long passed when the courts adopted a strict constructionist ..... regulation act, 1973, has created regulatory mechanism and the contravention thereof can be nicknamed as a regulatory offence. as the statute deals with regulatory offences, so construction of the enactment of the parliament must be purposive construction i.e., according to its purpose, so far as wording may reasonably permit. the resolution of ambiguity, if any shall be in favour of implementing .....
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