https://www.taxtmi.com/caselaws?id=100641 Section 24A of the Foreign Exchange Regulation Act supports a presumption from a document only where authorised enforcement machinery seizes it from the custody or control of the person against whom it is relied upon. A document seized by customs authorities does not trigger that presumption against that person or other persons. Borrowing or lending of foreign exchange under section 4(1) requires proof of a loan relationship, including an express or implied obligation to repay; indebtedness or balance-sheet entries alone are insufficient. In quasi-criminal proceedings, enforcement authorities must prove the alleged contravention beyond reasonable doubt. The stated facts did not establish admissible evidence or a foreign-exchange loan transaction. en-us Fri, 08 Oct 1982 00:00:00 +0530 Fri, 03 Feb 2012 16:41:21 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=100641 Section 24A of the Foreign Exchange Regulation Act supports a presumption from a document only where authorised enforcement machinery seizes it from the custody or control of the person against whom it is relied upon. A document seized by customs authorities does not trigger that presumption against that person or other persons. Borrowing or lending of foreign exchange under section 4(1) requires proof of a loan relationship, including an express or implied obligation to repay; indebtedness or balance-sheet entries alone are insufficient. In quasi-criminal proceedings, enforcement authorities must prove the alleged contravention beyond reasonable doubt. The stated facts did not establish admissible evidence or a foreign-exchange loan transaction. Case-Laws Companies Law Fri, 08 Oct 1982 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=100641