https://www.taxtmi.com/caselaws?id=72652 Seized letters and recorded statements were found insufficient to prove contravention of the Foreign Exchange Regulation Act, 1947, because the letters did not on their face show any unauthorised receipt or remittance of foreign exchange. They referred only to drafts and bank transmission, and the amounts mentioned did not match the sums covered by the notices. The authorities could not fill that gap by conjecture, especially where the letters were relied on only as corroboration of the impugned statements. The court noted that the letters themselves had to disclose incriminating circumstances, and the surrounding facts also indicated that the statements were not voluntary. The penalty and confiscation were therefore not sustainable. en-us Tue, 09 Sep 1986 00:00:00 +0530 Tue, 24 May 2011 10:52:11 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=72652 Seized letters and recorded statements were found insufficient to prove contravention of the Foreign Exchange Regulation Act, 1947, because the letters did not on their face show any unauthorised receipt or remittance of foreign exchange. They referred only to drafts and bank transmission, and the amounts mentioned did not match the sums covered by the notices. The authorities could not fill that gap by conjecture, especially where the letters were relied on only as corroboration of the impugned statements. The court noted that the letters themselves had to disclose incriminating circumstances, and the surrounding facts also indicated that the statements were not voluntary. The penalty and confiscation were therefore not sustainable. Case-Laws FEMA Tue, 09 Sep 1986 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=72652