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Non-confirmation of FEMA seizure prevents adjudicators from overriding pending appellate findings on recorded reasons and suspected foreign asset hold...
Personal penalty on the charge of forgery of Textile Committee report - It is found that forgery is a very serious charge which should be proved by clear and cogent evidence which seems to be missing in the present case as two of them have retracted their statement and the statement of Mahesh Bhansuhali is the one left for which both the appellants have asked for cross examination which was denied by the lower authorities, which should have been given since other confessional statements were retracted. - Moreover, when department’s claim of change of classification failed, the personal penalties being consequential to the main case of classification would also not sustain. - AT
Personal penalty on the charge of forgery of Textile Committee report - It is found that forgery is a very serious charge which should be proved by clear and cogent evidence which seems to be missing in the present case as two of them have retracted their statement and the statement of Mahesh Bhansuhali is the one left for which both the appellants have asked for cross examination which was denied by the lower authorities, which should have been given since other confessional statements were retracted. - Moreover, when department’s claim of change of classification failed, the personal penalties being consequential to the main case of classification would also not sustain. - AT
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TaxTMI 
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