https://www.taxtmi.com/caselaws?id=213204 Issue estoppel applies only to the factual issue actually finally determined in earlier proceedings, so an order concerning co-noticees did not exonerate the appellant. In FEMA adjudication, liability can be proved on a preponderance of probabilities through surrounding circumstances, fictitious shipping bills, substituted goods, bogus purchase bills and reliable statements, including retracted statements if found voluntary and true. The material showed unauthorized inward remittances and transactions linked to bogus exports, establishing breach of the foreign exchange restrictions. The penalty was therefore sustained as commensurate with the misconduct. en-us Wed, 28 Mar 2012 00:00:00 +0530 Mon, 14 May 2012 08:33:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=213204 Issue estoppel applies only to the factual issue actually finally determined in earlier proceedings, so an order concerning co-noticees did not exonerate the appellant. In FEMA adjudication, liability can be proved on a preponderance of probabilities through surrounding circumstances, fictitious shipping bills, substituted goods, bogus purchase bills and reliable statements, including retracted statements if found voluntary and true. The material showed unauthorized inward remittances and transactions linked to bogus exports, establishing breach of the foreign exchange restrictions. The penalty was therefore sustained as commensurate with the misconduct. Case-Laws FEMA Wed, 28 Mar 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=213204