https://www.taxtmi.com/caselaws?id=221741 Mere possession or seizure of foreign currency does not by itself establish that an accused has "otherwise acquired" foreign exchange under the FERA charge; the prosecution must produce material linking the accused to ownership or acquisition of the currency without RBI permission. The article notes that the currency was seized from premises occupied by the petitioner, but no fresh evidence showed that the money belonged to him, and the earlier income-tax finding had already accepted the explanation that it belonged to another person. In the absence of additional incriminating material, the prosecution could not be sustained and discharge was warranted. en-us Tue, 07 Feb 2012 00:00:00 +0530 Thu, 28 Mar 2013 11:50:47 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=221741 Mere possession or seizure of foreign currency does not by itself establish that an accused has "otherwise acquired" foreign exchange under the FERA charge; the prosecution must produce material linking the accused to ownership or acquisition of the currency without RBI permission. The article notes that the currency was seized from premises occupied by the petitioner, but no fresh evidence showed that the money belonged to him, and the earlier income-tax finding had already accepted the explanation that it belonged to another person. In the absence of additional incriminating material, the prosecution could not be sustained and discharge was warranted. Case-Laws FEMA Tue, 07 Feb 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=221741