https://www.taxtmi.com/caselaws?id=245271 A statement recorded from one noticee may be used against a co-noticee only when it is itself inculpatory of the maker; a merely exculpatory or shifted accusation against another person has no substantive evidentiary value. Retracted statements cannot, by themselves, support findings of contravention unless they are independently corroborated by other material evidence. Recovery of Indian currency alone does not establish illegal foreign exchange dealings, and absence of recovered foreign exchange weakens the evidentiary basis for confiscation or liability under the Foreign Exchange Regulation Act, 1973. en-us Tue, 11 Mar 2014 00:00:00 +0530 Mon, 06 Feb 2017 16:46:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=245271 A statement recorded from one noticee may be used against a co-noticee only when it is itself inculpatory of the maker; a merely exculpatory or shifted accusation against another person has no substantive evidentiary value. Retracted statements cannot, by themselves, support findings of contravention unless they are independently corroborated by other material evidence. Recovery of Indian currency alone does not establish illegal foreign exchange dealings, and absence of recovered foreign exchange weakens the evidentiary basis for confiscation or liability under the Foreign Exchange Regulation Act, 1973. Case-Laws FEMA Tue, 11 Mar 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=245271